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Vision33 Blog

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Multi-Entity and Multi-Currency Global Consolidations Are Fast and Easy With Sage Intacct

Posted by Vision33 on Tue, Sep 07, 2021 @ 11:34 AM

Multi-currency and multi-entity consolidation with Sage Intacct

Multi-location organizations are often challenged with decentralized payables, inter-entity transactions, multiple currencies, and global consolidations. Without the right technology, these processes involve tedious information gathering, validation, and reporting and can take weeks or months to complete.

The Challenge

Small business accounting applications can’t handle complex consolidations, so you’re left relying on spreadsheets. The manual data entry, copying, and pasting associated with these dangerous workarounds waste time and lead to expensive mistakes.

The Solution

Sage Intacct is a better way. Intacct is a modern, cloud-based financial management solution that automates financial consolidation activities, including currency conversions, inter-entity transactions, and local tax reporting. With Sage Intacct, you can ditch the spreadsheets, close the books up to 70% faster, and focus on your business’s growth.

Here are some ways Sage Intacct makes the consolidation process fast and easy:

  • Journaled consolidations – Gain visibility with eliminations and currency impacts so you can easily make post-consolidation adjustments.
  • Inter-company eliminations – Automate at the point of consolidation.
  • Real-time reporting – View interim summary figures anytime, anywhere, on any device.
  • Currency conversions – Accurate, automated exchange rates stay up to date, even as rates change.
  • Easy entity and inter-entity setup – set up and manage all your inter-entity relationships in one place.
  • Flexible definitions – Have new entities inherit your existing lists, process definitions, and charts of accounts, or configure new entities with unique definitions.

Learn More

To learn more about Sage Intacct and how it can be a game-changer for your multi-location organization, download the datasheet below.

Get the Datasheet

Tags: Cloud, Accounting, sage, Intacct, Sage Intacct, Cloud Financials

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