Sage Intacct automates financial consolidation for groups with more than one entity. It combines the books of every company, division or location in one click, posts intercompany eliminations and converts currencies automatically, so your finance team can produce group reports without spreadsheets. Below, we cover what it automates, how it handles multiple currencies and how it fits into a wider multi-entity accounting set-up.
Why Consolidation Gets Harder as Your Group Grows
As your business grows, whether it’s across new regions, countries or business lines, financial consolidation can quickly turn into a complex challenge. Managing different charts of accounts, currencies and local compliance rules puts a strain on manual workloads, results in delays and increases the risk of errors. Not sure whether your group is the right fit? See which businesses benefit most from Sage Intacct.
Sage Intacct transforms consolidation from a monthly headache into a streamlined, automated process.
From Spreadsheets to Strategic Activity
If you’re relying on spreadsheets and disconnected systems, or outsourcing, you’re probably familiar with:
- Data inconsistencies
- Currency conversion issues
- A lack of real-time visibility
- Close cycles taking longer
Making informed decisions quickly becomes harder, as does spotting potential opportunities or minimising threats.
Let’s look at how Sage Intacct addresses these problems, and gives finance teams a true competitive edge:
1. Automated Multi-Entity Consolidation
Sage Intacct enables you to consolidate an unlimited number of entities with one click – whether they share a chart of accounts or not. Forget juggling spreadsheets or reconciling intercompany transactions manually.
Sage Intacct automates:
- Intercompany eliminations
- Currency conversions
- Consolidated reporting
The result is a faster close, fewer manual adjustments and more time for analysis. Our guide to reducing month-end close time with Sage Intacct shows where those time savings come from.
For how entities, shared dimensions and group reporting are set up behind the scenes, read Sage Intacct multi-entity accounting software explained.
2. Seamless Multi-Currency Support
Operating globally? Sage Intacct handles multi-currency management easily, supporting over 150 currencies with up-to-date exchange rates and automatic conversions.
Gain consolidated visibility across subsidiaries while still viewing local results in native currencies.
Finance teams can:
- Run reports in both local and base currencies
- Automatically apply exchange rates
- Stay compliant with local regulations and tax rules
Running hotels, venues or restaurants across several countries? Download our free guide to multi-entity and multi-currency consolidations for hospitality.
3. Real-Time Reporting
Unlike legacy systems requiring batch updates or manual reporting, Sage Intacct delivers real-time consolidated financials.
Create customised dashboards and financial reports that span across your entities – by department, location or region (or almost any dimension you need) – with live data at your fingertips.
This empowers you and your team with:
- Faster decision-making based on live data
- Greater transparency
- A single version of the truth across the organisation
See the full range of consolidated and entity-level reports in our guide to what types of reports are available in Sage Intacct.
4. Scalable with Business Growth
Whether you’re adding new subsidiaries, expanding internationally, or acquiring companies, Sage Intacct effortlessly scales with your business. Add and set up new entities quickly, without disrupting your existing system, making it a future-proof solution ideal for fast-growing businesses.
Getting Started with Sage Intacct
Choosing the right software partner ensures a seamless, risk-free implementation. We work in partnership with you and your team, making sure we understand your specific needs and goals to build out the solution that suits your requirements and budget. When partnering with Acuity24 you can expect:
- Fixed price services
- Flexible payment options (including milestone billing and direct debit)
- Unlimited support options
We also offer an abundance of free Sage Intacct training on our Resources Hub, containing video tutorials, guides, eBooks and more sharing ongoing tips and best practices. Our Customer Portal is a community space for customers with regular live webinars sharing new features and tips and quarterly newsletter updates.
Find out more about Sage Intacct for your business:
