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There are a number of tools in Business Central that help administer Master and Transactional data within a multiple company environment.
This can be managed from a single “Master” company to ensure data is maintained across a group environment. The chart of accounts is most common. You update the master company and the whole group will update. Dimensions, customers, vendors etc can also be maintained centrally or locally as needed.
• Integrity is maintained which helps reporting and consolidations.
The system will take care of both sides of the entry when intercompany trading transactions are entered. This covers both sub ledger and general ledger as well as Purchase Orders and Sales Orders.
• No complicated intercompany reconciliations using grids in excel, reducing month and year end workloads. All intercompany transactions are created in the receiving company.
• Simply create a report for the auditors to confirm that balances are correct.
Out of the box, Business Central will handle complex groups and subgroup consolidations.
Allows users to view data across companies and environments from their home screen and to navigate into specific companies in the group.
Even small businesses are working in a global economy, which is why many organisations set up separate legal entities and branches in all corners of the globe. Business Central will allow for localisations where specific legal requirements are in place. From VAT to Sales Tax, to local legal requirements in Eastern Europe, you can rest assured that your environment will be specifically updated for your specific region.
Business Central is a global product that can be localised for your region and requirements. It can manage data centrally via a Master company. Data can also be decentralised and managed locally where needed.
With Business Central, whilst each company is a stand-alone entity, when transacting with each other they are efficient, so there is no need for difficult and time-consuming intercompany
reconciliations.
Find out how Business Central will benefit your business…
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