The last five years have hit accounting teams in most US companies and organizations hard. The combination of staff reductions and an overwhelming increase in payables transactions stemming from mergers and acquisitions have dramatically increased the workload. Short staffed financial teams are drowned in transactions from agents in the field, multiple offers, customer projects, credit card transactions email and snail mail. Managing and storing and keeping track of all those documents and receipts remains the most burdensome of challenges.
A Cloud Purchasing and Expense Financial App that Produces Balanced Intercompany Accounting Entries
Business growth often involves acquisitions and mergers, as a way of opening new doors in different regions. While growth is wonderful, it sometimes comes with a new set of headaches such as multiple business management solutions, general ledgers (GL), and the challenge of making sense of it all. Each physical location that belongs to a parent company must maintain its own GL, just as the parent company must manage a corporate-wide GL.