Multi-Entity Accounting with Sage Intacct

Posted on: July 26, 2021
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Blog, ERP / Accounting, ERP Migration, Franchisee / Franchisor, Migration: QuickBooks, Migration: Sage 100, Migration: Sage 500, Sage Intacct,
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By MicroAccounting
Go Big! Multi-Entity Consolidation with Sage Intacct - Micro Accounting

All business owners want to see their companies succeed and grow. But sometimes the restraints of using manual accounting processes to manage multiple entities scares owners away from expanding. Don’t let the struggles of managing multi-entity organizations hold you back from success. Sage Intacct accounting system provides users the ability to save time, money, and avoid the headaches associated with multi-entity organizations.

Many multi-entity organizations struggle with decentralized payables and interentity transactions. A global business, that must process multiple currencies often in different bank accounts, is even more complicated. Manual processes and inefficient accounting software cannot meet these challenges and often stop finance teams in their tracks. With Sage Intacct multiple entity organizations can streamline their diverse and global consolidations and eliminate manual tasks, so finance teams can focus on growth and boost productivity — even close the books 25-70% faster!

Sage Intacct allows you to close quickly:

Journaled consolidations

  • Get granular visibility with eliminations and currency impacts recorded as journal entries, and easily make post-consolidation adjustments.

Intercompany eliminations

  • Automate intercompany eliminations at the point of consolidation.

Real-time financial reporting

  • Close the books faster and view interim summary figures at any time—your financial statements are ready when you are.

Manage multi-currency needs:

Currency conversions

Use accurate, automated exchange rates for currency conversion and revaluations that stay up-to-date, even as rates change.

  • ASC 830/FAS-52 compliance
    Get ASC 830/FAS – 52 compliant multi-currency consolidation, creating cumulative translation adjustments (CTAs).

If you want to grow your business but are being held back by your current system, a cloud-based accounting solution like Sage Intacct could be the answer. We can help you upgrade to an accounting platform that is a better fit for your needs. Call MicroAccounting today at 855-876-3773 to find out more.