Recently, Acumatica won the SIIA Net Codie Award for Best Cloud-Based ERP. It’s a testament to the power and flexibility in Acumatica ERP.
Inter-Company Accounting Challenges
As companies grow, they may acquire new subsidiaries or other companies and manage them as separate entities. Then the questions begin: should you leave each company with separate general ledgers and balance sheets? How do you reconcile each subsidiary or company’s accounting back into the parent company’s general ledger? And how do you do all of this quickly, efficiently, and thoroughly?
The answer may be in the software you choose to manage your accounting. ERP, or enterprise resource planning systems, provide robust financial management and accounting functions that are up to the task of managing complex accounting situations
Acumatica ERP for Inter-Company Accounting
A great choice for companies with multiple subsidiaries is Acumatica ERP. Acumatica includes functions such as financial management, distribution management, customer relationship management (CRM), project accounting, manufacturing, field service and more. This powerful cloud-based suite can handle company growth with ease, expanding to add ever-increasing layers of complexity, subsidiaries, and more.
He Who Hesitates Is Lost
You’ve heard the old adage, “He who hesitates is lost.” Waiting too long to choose your software and reconciling your company’s accounts can lead to untold problems.
Without reconciliation among the company’s accounts, supply chain and administrative area data may lag behind. Inventory and cash positions may be inaccurate. This can lead to faulty business decisions, lost revenues, and time spent manually reconciling the books.
Synchronization among the systems is the key to success. Manually synchronizing multiple sets of accounts take a tremendous amount of time and resources and is prone to errors and mistakes. Such mistakes could produce inaccurate reports. Business decisions based on inaccurate reports may not be the best and can cause delays, problems, and miscommunications.
The right software solves these problems. Cloud based Acumatica ERP synchronizes data in real time so that you don’t have to perform manual reconciliation. No delays mean that information can be used immediately for better business decisions. Inventory, cash, accounts payable and receivable are all updated simultaneously when you use a single system for financial management.
Acumatica ERP Saves Time
An ERP system such as Acumatica has a significant, positive impact on both the ease and accuracy with which transactions among parent companies and their subsidiaries are reported.
An integrated, real-time accounting system handles the data with ease. Typing everything into a spreadsheet and spending hours massaging the data isn’t effective and the time wasted there could be better spent using the data reports to improve the business rather than simply making the data available.
Acumatica Cloud ERP, the Right Choice for Complex Business Accounting
When you have complex business accounting needs, Acumatica cloud-based ERP is the best choice. It provides the most advanced cloud-based accounting and reporting functions and can synchronize data among multiple sites, business units and more.
Emerald TC specializes in helping mid-market, multi-location companies increase efficiency, productivity, and profits. Acumatica Cloud ERP is one of the many fine software packages we sell and support. Let’s discuss how we can help you. Contact us or call 678-456-6919 today.