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.
Automation and productivity highlights
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
Bring it all together—quickly and accurately
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
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
Flexible advanced functionality to automate and streamline key finance and accounting processes.
- Dynamic AllocationsFully automate allocations
- Fixed AssetsComprehensive automated asset management
- Intelligent TimeAI-powered timesheets
- Inventory ManagementGet the right items in the right place at the right time
- Multi-Entity and Global ConsolidationsPowerful, lighting-fast continuous consolidations
- Project AccountingStay on-track, on-budget, and profitable
- Revenue RecognitionIntelligent, automated, and compliant revenue recognition
- Sales and Use TaxKeep up with rules and compliance requirements
- Spend ManagementStreamline purchasing and payables
- Time and Expense ManagementMaximize revenue and minimize time and effort
- Vendor Payment ServicesMake faster, safer, and accurate payments
Building a Financial Infrastructure to Support Rapid Expansion with Multi-Entity Consolidations
Multi Entity Financial Management
Next Generation Financial Consolidations White Paper
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.
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Frequently asked questions
Without automating financial activities, consolidations can be a drain on time to manually manage complexities in a multi-location organization, such as decentralized payables, inter-entity transactions, or multiple currencies. Tracking hundreds, perhaps thousands, of inter-company transactions using spreadsheets is error-prone and time-consuming—taking days or weeks to consolidate. Sage Intacct Global Consolidations accelerated consolidations by:
- Automating inter-company eliminations
- Automating currency conversions and revaluations
- Complying with ASC 830/FAS-52 multi-currency consolidation, creating cumulative translation adjustments (CTAs)
After setting up your entities’ books, running the consolidations processes is easy. Simply select the books to consolidate and period range and click the consolidate button. You can even set up a recurring schedule of how often you want to consolidate so the process can run in the background.
This comprehensive automation translates to getting your consolidated financial reports in a fraction of the time it takes with manual consolidations processes, leading to reduced close time and improved accuracy. Every stakeholder gets the right view of performance with streamlined financial management and reporting.
Here are just a few examples of how organizations achieved greater efficiency and visibility.
- Jumpstart, a venture development nonprofit, managed consolidations across complex multi-entity operations to more than double the speed of planning cycles and increased budget accuracy by 90%.
- Tandem HR, a custom HR solution provider, cut 500 hours annually and increased EBITDA 195% through data-driven decision making made possible with faster, accurate financial information.
- Rivr Media, a television producer, streamlined inter-company financial processes to shorten the monthly close by 3 to 5 days and save over 125 hours per month.
Sage Intacct is ideal for ramping up new entities. Existing practices, perhaps with similar business models, can be used to quickly configure the accounts of new entities. In-system report writers can adjust to the reporting needs and meet different GAAP and industry requirements. You can adapt the chart of accounts to meet the needs of the new business unit. Configurable rules for inter-entity transactions, bank accounts, and more—keeping new entity setup easy and consistent.