See how Club Mykonos used Orchid Inter Entity to streamline financial processes
Are you struggling to keep everything in balance?
Do you run multiple entities within one or across Sage 300 databases?
Increase the accuracy of your financial data
Why use it?
Do you allocate expenses and/or revenue across multiple funds or companies, balance inter-company loan accounts, or process cash between companies?
- Are you wasting hours or days each month manually reconciling those accounts and creating balancing transactions?
- What if you could keep those entities in balance at all times, with offsetting entries being automatically generated in each company based on highly configurable rules, and with an extensive audit trail?
What is it?
Inter Entity Transactions facilitates doing business and transferring funds between entities. Entities can include branches, divisions, departments, funds, projects, trusts or multiple companies held within one or across Sage 300 (Accpac) databases.
Inter Entity Transactions increases the accuracy of your financial data, streamlines business processes and provides tight control over transactions spanning multiple entities.
The due to and due from transactions are automatically generated, and complex routes can be followed when there are no direct inter entity account relationships between the transacting entities.
Detailed reports and processes ensure entities balance at all times, increasing the timeliness and accuracy of information while saving keystrokes! The Inter Entity Transactions module will work on all General Ledger transactions regardless of whether they originated from the General Ledger, any subsidiary ledger, a third party module, or an external system that has created General Ledger batches.
The module is well suited to non-profit organizations with Fund Accounting requirements, and any organization with loan accounts that should mirror each other as a result of inter department, inter branch, inter divisional or inter company processing requirements within one or across Sage 300 Databases.
- Accuracy of financial data.
- Streamlines business processes.
- Complex routes can be followed.
- Automatic due to and due from transactions.
- Keep each entity in balance.
Automate Loan Account Entries
- Works within one and/or across Sage 300 databases.
- Due to / due from transactions generated automatically.
- Works on all General Ledger transactions, regardless of where they originated from.
- User definable routes, including complex routes across multiple entities.
- Balance transactions at the segment level (rather than just the Account level) for one or more segments.
- "Auto Reverse" inter entity entries bound for other companies.
- Supports transactions between entities with different functional currencies.
- Loan Account Balance enquiry and report showing matching loan accounts across multiple databases.
- Consolidated AR Aged Trial Balance across multiple databases.
- Consolidated AP Aged Trial Balance across multiple databases.
- Optionally post transactions based on date rather than fiscal period to support entities with different Period and Year Ends.
- Optionally set GL Accounts and GL Transactional Optional fields to be auto created in target databases.
- Optionally set batches in target databases to autopost.
- Generate batches for Import into remote "offline" company databases.
- Supports standard Sage 300 (Accpac) functionality such as GL Auto Allocation and GL Reversing Entries.
Auto-Create AP, AR and/or GL Reallocations
- Automatically trigger additional transactions (GL, AR and AP) to automate complex Inter Entity transactions.
- Use wild cards in the trigger account setup to make it easier.
- Account Substitution to reduce the need to replicate accounts in multiple entities.
- Configure AP and AR charges to accumulate, allowing for periodic on-charges.
(Use the More Information link below for a fuller description of Inter Entity Transactions Cash Management features).
- Allocate payments or receipts for invoices in one company, using a bank account in another company.
- Transfer invoices from one company to another for consolidated processing.
- Process bank transfers between companies
- Developed in the Sage 300 SDK providing Sage 300 look and feel.
- Standard Sage 300 security, customization capabilities, import/export, data integrity checking and more!
Inter Entity Transactions 2018 requires Sage 300 2018 System Manager and General Ledger.
* Cash Management features are only included in the multi-database version of Inter Entity Transactions.