Without automating financial activities, consolidations can be a drain on time to manually manage complexities in a multi-location organization, such as decentralized payables, inter-entity transactions, or multiple currencies. Tracking hundreds, perhaps thousands, of inter-company transactions using spreadsheets is error-prone and time-consuming—taking days or weeks to consolidate. Sage Intacct Global Consolidations accelerated consolidations by:
Automating inter-company eliminations
Automating currency conversions and revaluations
Complying with ASC 830/FAS-52 multi-currency consolidation, creating cumulative translation adjustments (CTAs)