Carlson Thought Leadership in Finance & Technology

Sage Intacct: Cloud ERP Designed for Multi-Entity and Multi-Currency Organizations

June 24, 2020 / by Mary Beth Gossart

Does your organization have multiple operating entities? Perhaps you have multiple franchises or entities such as hotels. Do you have international entities and deal with different currencies? Sage Intacct was designed with multi-entity and multi-currency at its core.

If you face the challenge of decentralized payables, inter-entity transactions, multiple currencies and global consolidations, now is the time to consider Sage Intacct. With Sage Intacct, you can eliminate all the manual activities needed to close your books. Our clients are able to close their books 25-70% faster and focus on growing their business by taking advantage of automated financial consolidation activities including currency conversion, inter-entity transactions and more.

One of the biggest challenges faced by multi-entity organizations is the lack of actionable insights. Sage Intacct allows for continuous multi-entity consolidations which are streamlined across all entities. With the ability to automate inter-company eliminations at the point of consolidation, you will be able close the books faster and view interim summary figures at any time, making your financial statements ready when you are. Dynamic dashboards provide insight into each entity and the organization as a whole. The valuable perspectives gained by this real-time data helps to guide future growth.

Easy-to-use screens allow staff to capture data across entities during initial data entry. With the automated creation of “due to” and “due from” transactions for inter-entity accounts payable and accounts receivable transactions, auto balancing of inter-entity journal entries and the automated elimination of inter-entity transactions makes month end close a breeze.

Going global should not be a huge challenge for your organization from an accounting perspective. Managing multiple currencies with Sage Intacct is easy as it seamlessly integrates into your system and workflows giving you the global information that you need at your fingertips. Data entry staff require minimal training to use the straightforward and intuitive screens for base and transaction currency. The inclusion of both a base currency and multiple transaction currencies enables the reporting you need to manage your global business. Currency rates are automatically brought into the system from OANDA’s live exchange rate table saving you time and increasing the accuracy of exchange rates. As transactions are entered and posted, the exchange rate is tracked for reference in reports and your unrealized gain and loss on your foreign currency transactions are automatically computed so you are prepared for month end.

Leverage the power Sage Intacct, a true cloud accounting solution built for growing multi-entity and multi-currency companies. Sage Intacct is the only accounting software recommended by the AICPA. Contact us today for a demo!

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