Recognition of Chinese Characters within a Data Source

Issues

Financial Statements may not contain an account code and therefore recognition of account names becomes critical to get the relevant financial information inside of your financial statements. The preparation of two sets of financial statements in differing languages is a costly exercise which also affects the timeliness of financial information.

Expectations

It is expected that modern accounting software can handle multiple languages and that the system is able to recognize and validate financial statements in different kinds of languages.

Solutions

Supported by a Lookup Engine, FESA Consol allows for the configuration of multiple language lookup tables for each ledger. This allows users to upload their financial statements prepared in Chinese Language directly as the system has a built-in lookup process to automate the recognition and transformation of different languages. So consolidated financial statements can be processed and generated automatically.

Benefits

Productivity of finance offices at a regional level as well as at headquarters are greatly improved as users are not required to prepare two independent sets of financial statements in different languages manually.