How Sage Intacct Simplifies Multi-Entity Accounting for Growing Businesses

Financial management often becomes more complex as businesses grow and expand to multiple locations or add subsidiaries and business units. Managing multiple international entities involves dealing with different currencies, tax structures, and regulations. Reconciling all those differences into a single, consolidated document can be challenging, particularly if you’re relying on basic accounting software that wasn’t designed for companies with complex financial needs.

That’s where Sage Intacct comes in. Sage Intacct simplifies multi-entity accounting by automating consolidations, improving compliance, and providing real-time visibility into all financial and operational data across all entities or business units. It helps growing businesses remain efficient and agile, positioning them to thrive in a competitive market.

6 Ways Sage Intacct Simplifies Multi-Entity Accounting

Sage Intacct simplifies multi-entity accounting in several ways as well as providing multiple other benefits, including automating manual processes and streamlining operations.

Here is a list of the top 6 ways Sage Intacct simplifies multi-entity accounting.

1. Automated Multi-Entity Consolidations

For businesses that rely on spreadsheets and manual processes, multi-entity consolidations may take days or even weeks. Sage Intacct automates the consolidation process, including multi-entity consolidations, meaning it can perform multi-entity consolidations within minutes.

This significantly reduces the amount of time needed to do monthly- and year-end consolidations and frees up accounting staff to spend more time on strategic tasks. It also eliminates manual reconciliation errors.  

2. Automated Intercompany Accounting

Managing intercompany transactions is one of the biggest challenges in multi-entity consolidations. Intercompany transactions are financial transactions that take place between different entities that are linked to the same parent company. Tracking and reconciling these transactions, including correctly recording them in both sets of books, can be difficult for companies without the right accounting system.

Sage Intacct automates intercompany accounting, ensuring that transactions between entities are recorded correctly in both sets of books without the need for duplicate entries. Sage Intacct automatically records intercompany payables and receivables, eliminates discrepancies between entries, and reduces compliance risks. It also streamlines workflows and reduces accounting errors.

3. Multi-Currency and Global Financial Management

Global expansions add complexity to financial management. Operating internationally involves dealing with currency conversions, fluctuating exchange rates, and different legal and regulatory environments. Sage Intacct simplifies the process of managing international operations with its built-in multi-currency, multi-language, and global financial tools.

Its automatic currency conversions use real-time exchange rates, and its multi-currency reporting allows business leaders to easily track global financial performance. Sage Intacct improves compliance with international accounting standards like GAAP, IFRS, ASC 606, and ASC 830. This allows businesses operating across international borders to manage finances with ease.

4. Real-Time Visibility Across All Entities

Without a centralized financial system, getting a consolidated view of multiple entities can be quite challenging. Basic accounting software may not have the functionality needed to provide real-time visibility into all divisions or business units.

Sage Intacct provides real-time reporting and dashboards, giving business leaders instant access to real-time financial and operational data across all locations. They can view data by location or across the entire organization. Sage Intacct’s advanced drill-down capabilities allow business leaders to analyze the data along any dimension they need. This allows them to make better, faster decisions based on real-time data.

5. Compliance & Audit Readiness

Operating in multiple jurisdictions means dealing with multiple regulatory, legal, and tax compliance requirements. Sage Intacct helps businesses remain compliant by automating tax calculations, ensuring accurate reporting, and maintaining a complete audit trail. This means that businesses are always audit-ready. Sage Intacct’s easy-to-use tools simplify tax reporting across multiple jurisdictions, make audits easier, and reduce the risk of costly compliance errors.

6. Increase Scalability

Sage Intacct increases scalability. It’s designed to grow with you, fueling business growth by increasing automation and eliminating bottlenecks. With Sage Intacct, it’s easy to add new entities without disrupting existing operations due to its flexible reporting structure. As a cloud-based system, Sage Intacct is accessible from anytime, anywhere, making it ideal for a remote or mobile workforce.

Sage Intacct is built to support business growth—no matter how complex your organization becomes.

How Your Know It’s Time to Switch

If your finance team is spending too much time on manual consolidations or struggling with intercompany transactions, it may be time to upgrade to Sage Intacct. By automating key accounting processes, improving accuracy, and providing real-time visibility, Sage Intacct fuels business growth.

Contact us today to see what Sage Intacct can do for your business.