Multi-entity accounting simplified with MYOB Acumatica

Multi-entity accounting is one of the key features within the MYOB Acumatica (formerly MYOB Advanced) ERP software.

The system is designed for growing organisations with multiple entities and complex reporting requirements that want to simplify the intercompany accounting process.

Here is an overview of the core multi-entity accounting functions within the MYOB Acumatica ERP system.

Multiple companies and branches setup

MYOB Acumatica allows you to setup multiple companies and access them separately according to your requirements. This means that you can also manage them separately. Think about customers, suppliers and stock items for example.

You can have completely separate entities and still manage them in one platform!

From a reporting point of view, the MYOB Acumatica system allows intercompany management. You can have a “top-level company” which allows you to report across all of the subsidiaries, in whichever currency you prefer.

Within companies, you can also setup multiple branches. So, for example, if you manage and report in different geographies, you can have different branch names with different GST numbers.

You can also set up a default branch for each user so that the right information is presented to the right individual after login.

Alternatively, you can split some costs evenly between branches (for example marketing costs).

Multi-entity reporting

Profit and Loss reporting in MYOB Acumatica can be run either based on multiple companies (across ABNs) or showing for a single branch within a single company.

You can see a P/L view for each of your companies or consolidated across the group.

Intercompany as a core component of MYOB Acumatica ERP software

MYOB Acumatica is a suite of online solutions for mid-size and growing businesses that want to streamline operations, automate reporting and grow smart.

The software has powerful financial functionalities such as General Ledger, Accounts Receivable, Accounts Payable, Cash management, Currency Management, Tax Management, Deferred Revenue, Recurring Revenue and Fixed Assets Management to name a few.

In addition to the comprehensive suite of financial and reporting tools, MYOB Acumatica (formerly MYOB Advanced) also gives its users access to    Inventory and Distribution management, Customer Relationship Management (CRM), Project Accounting, Payroll Management and more.

A true, Cloud-based, all-in-one solution to manage your growing business from A to Z.

For more information or to schedule a demo, call us on 1300 045 046 or email info@leveragecloudtech.com.au today.