Organisations with multiple entities encounter considerable hurdles when consolidating finances and reporting. Without one consolidated system, businesses often face various challenges in terms of manual data entry, financial consolidation and reporting, managing cash flow and vendor payments, and close periods across the organisation.

To scale your organisation effectively and streamline processes between companies efficiently, you require software that can handle multiple entities within one system. Large, complex multi-entity organisations use MYOB Advanced to meet enterprise-level account consolidation and reporting needs. MYOB Advanced is well-suited for multi-entity organisations, offering robust functionality to manage multiple companies or subsidiaries within a single system.

Here’s how MYOB Advanced caters to the needs of multi-entity organisations:

Centralized Management

MYOB Advanced allows you to manage all your entities from a centralized platform. This means you can access data, reports, and perform administrative tasks for each entity from a single location, streamlining operations and improving efficiency.

Separate Entity Setup

Within MYOB Advanced, you can set up separate entities for each company or subsidiary. Each entity can have its own chart of accounts, customers, vendors, and transactions, ensuring that the financial data for each entity remains distinct and organized.

Consolidated Financials

MYOB Advanced provides real-time consolidation across entities, allowing you to generate consolidated financial reports easily. This feature is crucial for multi-entity organizations that need to view the financial performance of the entire group as well as individual entities.

Intercompany Transactions

MYOB Advanced supports intercompany transactions, enabling seamless transactions between entities within the same organization. This ensures accurate recording of transactions between subsidiaries while maintaining proper accounting practices.

Multi-Currency Support

For organizations operating in multiple countries or dealing with different currencies, MYOB Advanced offers robust multi-currency support. This allows you to transact and report in multiple currencies, simplifying international operations.

Security and Access Controls

MYOB Advanced provides role-based security and access controls, allowing you to restrict access to sensitive data based on user roles and permissions. This ensures that only authorized personnel can view or modify data for specific entities.

Scalability

As a cloud-based solution, MYOB Advanced is highly scalable and can accommodate the growth of your multi-entity organization. Whether you’re adding new subsidiaries or expanding into new markets, MYOB Advanced can scale to meet your evolving needs.

Overall, MYOB Advanced offers a comprehensive suite of features tailored to the requirements of multi-entity organizations. Its cloud-based nature, advanced functionality, and scalability make it an ideal choice for businesses looking to streamline operations and drive growth across multiple entities.