Financial Reporting - GRAP Compliance
Municipalities that are using Pastel Evolution can benefit from a product called 'Dynamic Excel Functions for Pastel Evolution' to populate any financial reports inluding GRAP compliant AFS.
Dynamic Excel Functions for Pastel Evolution is a Business Intelligence Excel Plug-in that extracts actual and budget amounts from Pastel Evolution by period or between periods using Excel Functions into a spreadsheet. This solution is particularly useful for generating reports that need to have a look and feel desired by your organisation.
We realised that often Accountants who generate reports from Pastel Evolution use a Business Intelligence tool to extract amounts in a format that ships with the Business Intelligence tool. After such amounts have been extracted into Excel spreadsheet, Accountants still have to do further manipulation, use additional functions within the spreadsheet (such as Vlookup, Hlookup, pivot tables, etc), use multiple spreadsheets, and sometimes even use macros to ultimately generate the report in a format desired by their organisation.
Dynamic Excel Functions for Pastel Evolution is aimed at addressing such challenges thereby reducing time required to generate Financial Statements and Strategic Reports. In fact, when the spreadsheet is setup accordingly, the processes of generating Financial Statements or Strategic Reports is just a matter of specifying a month and a year and the spreadsheet populates accordingly in a required format.Benefits of using Dynamic Excel Functions for Pastel Evolution are:
- The Pastel Evolution plug-in functions package is created to be used by any template designed in the format required by any organisation.
- Populating the template with the plug-in does not require writing code. As a result, time required to populate the template is saved thereby saving your organisation the cost of automating your template.
- Upgrading Pastel Evolution to latest versions will not affect your automated templates.
- Once the template has been automated, generating a report is just a matter of specifying the parameters required such as year and month
- Since the Functions work in Excel, the template can be made highly secured so that no one tempers with the figures.
- The functions are easy to use and therefore an expert is not always required to build your reports