Building a Financial Infrastructure to Support Rapid Expansion with Multi-Entity Consolidations
Multi Entity Financial Management
Next Generation Financial Consolidations White Paper
Bring it all together—quickly and accurately
If your multi-location organization faces complexities—decentralized payables, inter-entity transactions, multiple currencies, global consolidations—you’re ready for Sage Intacct. Our accounting software for multiple entities automates financial consolidation accounting activities including currency conversions, inter-entity transactions, local tax reporting, and more. That eliminates manual effort so you can close the books faster and bring on the growth.
Thanks to Sage Intacct, Tandem HR left 15+ Excel sheets (each one with 50+ tabs) and 22 instances of QuickBooks behind and:
- Cut 500 hours annually by eliminating QuickBooks workarounds
- Achieved 195% increase in EBITDA through data-driven decision making
- Slashed its monthly close from 30 days to 10 days
Continuous multi-entity consolidation accounting
At the push of a button, get granular visibility with eliminations and currency impacts recorded as journal entries, and easily make post-consolidation adjustments. View inter-entity transactions together with the source entry as one journal entry transaction to improve traceability. Automate intercompany eliminations at the point of consolidation, and consolidate complex ownership structures such as minority and partial ownerships. With Sage Intacct, you can close the books faster and view interim summary figures at any time – your financial statements are ready when you are.
Learn how Sage Intacct helped Rivr Media:
- Streamline intercompany financial processes to shorten monthly close by 3-4 days
- Save more than 125 person-hours each month
- Eliminate $100,000 per year in wasted productivity and IT costs
Easy multi-currency accounting software
Whether you need to automate conversions for transactions or report in multiple currencies across the globe, Sage Intacct has you covered. We automate everything related to managing multiple currencies to save you time and increase accuracy, using up-to-date exchange rates for your currency conversions and revaluations. Sage Intacct offers ASC 830/FAS- 52-compliant multi-currency consolidation accounting, creating cumulative translation adjustments (CTAs). You can even produce reports in headquarters currency or the local currency of the subsidiary or parent company.
With the help of Sage Intacct, learn how White Ribbon Alliance:
- Achieved 95% faster currency conversions
- Cut the ongoing 2 - 3 month lag in their financial close
- Eliminated methods that create duplicate data entry
"After a wide-ranging evaluation process, we narrowed our options down to Sage Intacct or Oracle NetSuite. Sage Intacct’s cloud-based system ended up as a clear choice over Oracle NetSuite because of its impressive multi-entity and multi-currency capabilities, as well as the great experience we had with the Sage Intacct team."
CFO, White Ribbon Alliance
Multi-entity consolidation accounting set-up made simple
Instantly set up new entities with configurable rules for inter-entity transactions, bank accounts, and more. With our accounting software for multiple entities, you can have new entities inherit your existing lists, process definitions, and charts of accounts, allowing them to be easily consolidated. Or you can easily configure each new entity with unique definitions. If you want to centralize equity and assets, or payables and receivables, you can. If you want to have multiple charts of accounts, you can. You make the rules – Sage Intacct makes it easy.
Learn how JumpStart manages financials across complex multi-entity operations and as a result:
- Sped planning cycles over 2X, while increasing budget accuracy 90%
- Increased overall finance team efficiency 30%
- Scaled with 50% budget growth despite only 25% finance team growth
Unified multi-entity architecture
Our unified financial consolidation accounting software architecture handles domestic and global locations, single and multiple base currencies, and simple and complex ownership structures. And shared definitions let you share vendor, customer, and item lists across entities to speed new entity creation and enable cross-entity and multiple entity reporting.
Learn how INVO PEO upgraded to unified multi-entity ERP and:
- Reduced global consolidations by 2 days per month and slashed reporting from hours to 20 minutes
- Achieved a 30% increase in finance team productivity
- Saved 50 hours per month managing AP and AR processes
Automation and productivity
- Go global with an investment in robust, accurate, and easy multi-currency accounting software
- Save time and reduce errors with automated financial consolidation accounting tools
- Increase visibility by relying on flexible, fully up-to-date local and global reports
- Save hours to days creating, troubleshooting, and reconciling inter-entity transactions