Running a multicompany business is hard. From handling intercompany transactions to rolling up numbers, managers need to see the whole picture if they hope to overcome the challenges that pop up every day, week, quarter, and month.
The Challenges of Making Multicompany Accounting Work
For those in the product-based business—manufacturing, distribution, retail, and more—running a multicompany business is even more challenging. Traditionally, this left ERP customers with a tough choice: Either work with a vendor who’s well-known for intercompany but not for delivering manufacturing or distribution functionality or take additional steps to make everything work outside the solution.
For example, Acumatica spent years building a competitive intercompany accounting and reconciliation product, delivering on the accounting needs of the multicompany business. This product has continued to improve its product, helping more and more companies to centralize accounting, provide access to the right users, and make reporting easy.
But as robust as the product was, and as much as the product delivered for some companies, many users needed just a bit more. That’s where we stepped in. Understanding the benefits Acumatica offered in some areas, we set out to make the product work in others. This led to the ASC Advanced Intercompany Solution.
Why Users Benefit from The ASC Advanced Intercompany Solution for acumatica
Built to automate the processes involved in managing multi-tenant/company operations, Advanced Intercompany Solution (AIS) gave Acumatica users the answers. Whether these users had different business process layouts or needed to expand beyond accounting, they were able to turn to ASC for a perfect—not partial—fit.
Expanding beyond accounting, AIS delivered more. Multiple base currencies, easier inventory management across entities, and better centralization allowed users to do more with the Acumatica solution. In turn, they found themselves able to better manage the following and more:
- Centralized Payables and Receivables: Rather than having to navigate the challenges of paying or collecting from each supplier or customer, AIS simplified the process. With AIS, parent companies can pay on behalf of all tenants and take payments no matter what branch sold them.
- Connecting Warehouses to Companies: Something offered by few well-known multicompany solutions, AIS was built with the product-based business in mind. Users can easily assign warehouses and inventory to specific companies. Inventory transfers initiate inter-company transfers to preserve company-level reporting.
- Asset Transfers: Acumatica recently added intercompany sales, but for those in need of asset transfers, AIS delivers. Connecting intercompany management with fixed assets, this allow you to assign and track fixed assets to specific companies in the Fixed Asset Management module, transferring depreciation and purchase history as well.
- Easier Customer and Vendor Management: Adding a vendor or customer is often a challenge, but with the ability to share selectable vendors, customers, items, ad GL accounts across entities, users can save time working between entities.
- Connect Separate and Same Legal Entities: Navigate between companies and branches that represent separate legal entities, as well as companies with branches that exist within the same legal entity.
- Better User Management: Create roles and groups of users that have access to specific companies and the associated transactions. Add users in seconds and maintain an audit trail of user activities.
Take Intercompany Management Further with ASC
As an Acumatica ISV, Advanced Solutions and Consulting has taken all the great things that Acumatica has done—and refined them a bit further. What started as the Acumatica Intercompany Accounting and Consolidation model, our Advanced Intercompany Solution (AIS) goes further, expanding Acumatica’s native intercompany functions into a variety of other fields including order and inventory management.
Delivering true “multi, multi, multi,” AIS supports all enterprise combinations regardless of Acumatica versions, base currencies, chart of accounts and calendars. From asset transfers to sales and inventory management, reporting, maintenance, and more, AIS delivers on the ASC MVP Promise—helping you to achieve the benefits of the “Digital Transformation” Acumatica offers.
Get to know more about ASC’s Advanced Intercompany Solution here, check out the wide range of other Acumatica ISV solutions we’ve developed, and reach out to us for a consultation.