Author: Mark Byrd

Sage Intacct for SOX Compliance

Sage Intacct For SOX Compliance

All public companies are required to comply with Sarbanes-Oxley (SOX). Still, there are also several key provisions of Sarbanes-Oxley that apply to small and medium-sized businesses as well as to accountants, auditors, and executives. Sage Intacct was built to assist companies in complying with SOX by helping companies of all sizes meet both deceptive and preventive internal control requirements.

Whether or not your company is required to comply with SOX, many of the requirements of the law are considered to be best practices and highly beneficial to all businesses. At its core, SOX compliance helps to ensure the accuracy of a company’s financial statements and protects the business from fraud, cyber-attacks, lawsuits, and more.

When a company produces financial statements, it must contain an internal controls report that details the control system’s structure and a manager’s evaluation of the control’s effectiveness.

Sage And Cybersecurity

In 2018 the security Exchange Commission released updated guidance requiring companies to “establish and maintain appropriate and effective disclosure controls and procedures that enable them to make accurate and timely disclosures of material events, including those related to cybersecurity.”

Sage Intacct has your internal cybersecurity controls covered with a secure login process that features:

  • Periodic password expiration
  • Minimum password length
  • Session timeouts
  • IP address restrictions by user or entity
  • Two-factor authentication

In addition to login security, Sage also provides access security that sets boundaries within the system by employees based on their role and department. User permission functionality reduces the chances of internally breaching the system because employees can only access the resources they need to perform their roles. User access helps companies meet the SOX requirement for segregation of duties because administrators can assign user permissions within each Sage Intacct module and function that prevents employees from performing multiple steps in the workflow. For example, an administrator can

separate the duties of importing bank transactions from bank reconciliations or establish smart rules to reject input from users who don’t have permission to perform specific tasks.

Sage Intacct also has your business covered when it comes to setting up controls to prevent unauthorized access to applications that integrate with the financial management system and to document who accessed the application and the date and time it was accessed. Sage Intacct uses tokens to allow audit tracking for all transactional activity of each marketplace partner and employs IP filtering for all application partners that prevent unauthorized access to an application by filtering out traffic based on IP addresses.

Finally, Sage Intacct protects your data stored in the cloud with both physical and digital security. Cloud hosting facilities are protected 24 hours a day, 7 days a week, by armed security guards and monitored security cameras. Sage Intacct servers are also isolated within the larger data center to add another level of physical security. Sage also has data centers around the world to protect you in the event of a disaster that affects data center services. Your data can be restored down to a specific minute using one of Sage’s backup data centers. Sage also does periodic third-party penetration testing in which paid hackers try to infiltrate the system to assess the effectiveness of the digital safeguards in place to protect their cloud hosting facilities. Sage Intacct also holds major security certifications, including SOC 2, PCI, and HIPAA.

Sage And Approvals

An internal controls system requires an approvals process for all transactions. A solid approvals process acts as a defense against normal, routine errors and fraud by having an experienced manager review transactions that meet certain thresholds administrators establish based on factors like amount, frequency, type, and overrides by the department. The finance team has complete visibility into what step each transaction is in throughout the approvals process. The approvals process also promotes segregation of duties since only users with manager-level permission can approve a transaction. This means no single user can initiate and approve a transaction.

If compliance is a concern for your company and you are looking to streamline your processes and procedures, and you need real-time data and insights from your reporting Sage Intacct is the perfect Solution. It fully integrates with 3rd party software and delivers on every level.

Contact Us

Build Your Business Portfolio With Sage Intacct

With world-class financial management software and tools, subscription automation, and service, Sage Intacct is the number one financial software trusted by leading private equity firms and their portfolio companies to build more profitable businesses.

Sage Intacct offers a best-in-class approach to partnering with private equity firms to drive portfolio-wide EBITDA growth by delivering shorter time to value, predictable implementations, consistent pricing, and a single point of contact. Sage Intacct helps to create value through optimizing and automating finance across your entire portfolio. With a single point of contact, you leverage Sage Intacct’s experience as a strategic advisor and as an extension of your operating partners.

Sage Intacct is designed specifically to onboard new acquisitions into your platform investments quickly, so you get a complete view and a single source of truth with consolidated real-time data and visibility across your entire portfolio. This financial software solution is built for multiple entities and designed to scale and accommodate rapid growth. In addition, it can adapt to business model changes quickly and efficiently.

Sage Intacct provides digital dashboards and real-time data reporting tools so you can leverage that real-time data to understand all of your KPIs and portfolio growth levers. You gain agility and flexibility to deliver the information and insights that matter to key stakeholders, executives, the board, and investors to allow for confident, informed decision-making and peak performance across your entities and investments.

Sage Intacct also offers the number 1 B2B Subscription billing solution. It is the only combined subscription billing and financial management software with ARR, MRR, and other key SaaS metrics, SaaS dashboards, revenue recognition, reporting, and Salesforce integration along with 606, FP&A, and HR.

Sage Intacct’s cloud accounting software products and financial management solutions deliver deep accounting capabilities that include tax filings, payroll, and inventory tracking tools across multiple industries that will accelerate your success. In general, customers achieve an average of 250% ROI and payback in less than 6 months. Some of the benefits include:

  • .Reducing time to close by as much as 79%
  • real-time reporting across hundreds of consolidated entities
  • Immediate, accurate information and insights, so financial leaders are in a good position to prepare and drive growth

Sage Intacct is a modular true cloud accounting solution that will not only meet your business needs now but will scale to meet your needs in the future by allowing you to add more functionality easily.

You can depend on Sage Intacct for continuing innovation and vision. With 4 major releases annually with an average of 50 new features per release, Sage Intacct keeps on delivering for their customers. Some of Sage’s industry firsts include:

  • Salesforce partner
  • HIPAA compliance
  • GuideStar board book
  • Dynamic allocations
  • Multi-entity consolidations in minutes, not hours

Sage Intacct is a best-in-class system and provides a simple, flexible connection service to dozens of related industry solutions such as Salesforce, Avalara, ADP, and American Express, to name just a few. With an open API ecosystem, it is easy to integrate your cloud financials with industry-specific software solutions, including restaurant management solutions, construction and project management, transportation, medical, etc. You can also configure Sage Intacct to your exact requirements or even build your own applications on the Sage Intacct platform. It offers you unparalleled flexibility to build your business portfolio exactly the way you need it to be.

Sage Intacct’s cloud-based platform can handle:

  • Over 50 billion financial records
  • 1 billion API calls per month
  • 100 million application requests daily

With Sage Intacct, you can ensure your organization will remain agile with an open, configurable, cloud accounting solution that allows for easy data sharing and connectivity with multiple solutions that are integrated into your financial foundation.

Your entire organization will be able to leverage systems that are intuitive and easy to use at any time and in any place.

Contact Us

Asked And Answered – Restaurant Chain Accounting Challenges

Restaurants have had to adapt to wildly different business situations during the past several years. Think about the rise in curbside pickups and contactless delivery. These kinds of adaptations are also forcing new ways to pay and new systems that require integration into the restaurants existing accounting solutions. The basic accounting challenges restaurants face are daunting in addition to the day-to-day management.  

Top Accounting Challenges Restaurants Face

Generating Reports

Reports and insights into what products are selling, what products aren’t, table turnover, staffing, overheads, and inventory are just a few of the many reports managers and owners need to be able to make informed business decisions that affect future growth and profitability. Many of these reports need to be drawn from different systems. An accounting solution that fails to deliver real-time insights and has the API capability to connect to various systems and apps that restaurants use can mean that a restaurant fails to increase sales at the right time. Losing money on inventory or not having the correct insights to make the tough decisions required to keep the business profitable and solvent.  

Identifying Your Prime Cost

Restaurants need to understand and calculate their prime cost to manage their expenses efficiently and smartly. The prime cost is the total between the cost of food and labor costs. You need an accounting solution that can help you calculate your prime cost percentage so you can set your prices correctly and manage your expenses. 

Managing Inventory

Managing inventory can be the trickiest part of restaurant management. The ability to prepare delicious food with great fresh ingredients is at the heart of a restaurant’s success. That depends on maintaining the quality of your ingredients and purchasing those fresh ingredients at the best prices. You need an accounting solution that can help you track and calculate the cost of goods each week, what foods are moving and what foods are going to waste. This gives you control over what and how much you order and what prices you need to be charging. With this information in real-time, you can make informed decisions about scaling your restaurant. 

Deciding Food Prices

The price of ingredients fluctuates due to various reasons, including seasonal factors, availability, and inflationary costs, to name a few. These factors can mean a restaurant has to change its menu offerings or prices. Most successful restaurants use a method called menu engineering to manage their menu price. This requires the data to determine the impact on sales due to the increasing costs of ingredients. 

Reducing Operating Costs and Expenses 

Restaurants are subject to a host of requirements and regulations to operate. These can be a massive challenge in managing business accounts. Not only do you have the basic financial statements such as inventory expense, payroll, and equipment costs, but you also have to account for taxation, health regulations, staffing, and turnover. Managing all those operating expenses requires automated accounting solutions so you can get real-time reports and insights.  

Managing Employee Payroll

Many restaurants are successful and see constant growth based on their outstanding service in addition to their food. Managing salaries at differing levels for different positions present challenges, as well as determining the correct salary levels to attract and retain talented employees. A

Choosing the Right Talent

Being able to track employee turnover is important in understanding what employee attrition is costing you and what type of talent you should be looking to hire. What is the personality of the successful staff, their work habits, and what is the right salary you need to offer to attract and retain them? These are questions the right accounting system can help you answer. 

Multi-Locations and Taxation

You also face local taxation issues and the need for multi-entity consolidations if you operate in multiple locations or own restaurant chains. 

These issues require an automated advanced accounting solution that can give you a complete picture of your restaurant or restaurant’s performance from the lowest detailed levels to the highest oversight levels—allowing you to respond to changes in performance in the industry and the economy quickly and with certainty that your decisions are based on real-time data and analytics. The good news is that Sage Intacct can handle all of your accounting needs. It features a role-based dashboard, a multi-dimensional general ledger that enables restaurants to streamline their chart of accounts and get richer information faster, giving you visibility across and into multiple entities, locations, and brands at the touch of a button. With Sage Intacct, you can consolidate in minutes instead of days, automate inter-entity eliminations and accelerate your close 50% faster. With Sage Intacct’s reporting capabilities, you can make rapid data-driven decisions based on deep real-time visibility into your entities’ performance. You will gain actionable insights and be able to track prime costs, programs, menu profitability, and much more to help you grow and scale sustainably. 

Contact Us

Accounting Solutions for Multi-Locatio and Multi-Entity Businesses

Accounting Solutions For Multi-Location and Multi-Entity Businesses

Multi-location and multi-entity businesses face unique problems when it comes to accounting. Some of the most common issues these businesses face include manual entry errors, decentralized payables, different currencies, inter-entity transactions, and taxation by location and country. As businesses grow, so does the accounting complexity, requiring a customized financial management system.

Is your business struggling with

  • Multiple systems and processes?
  • No standardization within or across entities and locations?
  • Inefficient and error-prone reporting?
  • Lack of visibility across entities?
  • Inability to scale and allow for growth?

We have come a long way from the days of all manual data entry and computation. With the growth and development of AI, automation has brought significant changes to accounting software solutions. Sage Intacct is a powerful cloud software solution that solves the most complex accounting problems because it incorporates AI and automation. It simplifies financial management for multiple locations, entities, and currencies for businesses of all sizes and complexities. You can automate your currency conversions, inter-entity transactions, and global tax compliance while eliminating manual input errors. You will be able to close your books faster and gain visibility across all entities. You will have more accurate, centralized internal controls that provide reliable, accurate reporting in real-time.

You can manage multiple entities and easily compare performance across locations or entities with a single login. You can even choose the language and currency for reporting or adjust account titles to fit local regulations. It is easy to move between consolidated and regional views to provide you with greater detail and insight into the financial figures at every level of your business and the ability to consolidate and spot trends and see the overarching financial picture of your company at the highest level. Best of all, with the cloud platform, you have access to this data whenever and wherever you need it.

You might be thinking this all sounds great, but what if my business spans multiple Industries? That is no problem for Sage Intact. Sage can handle multiple industries from non-profits to biotech, franchises, financial services, construction, hospitality, and more. Specialized needs by industry are no problem.

Don’t let your business get left behind. Choose Sage Intacct for the most scalable, complete automated cloud accounting solution that opens the door to manageable, compliant global growth.

Contact Us

Say Good-Bye to QuickBooks With Sage Intacct

Say Good-Bye To QuickBooks With Sage Intacct

QuickBooks is recognized for being a great basic accounting tool, and it is used by a lot of small businesses because it is user-friendly and affordable. Still, it is not an accounting solution that can handle business processes apart from financials. It is not a full enterprise resource planning solution. If you struggle to run your business using just QuickBooks and an ERP suite, then it’s time to move on up to Sage Intacct so your business can get real-time insights across multiple entities, perform consolidations in minutes and cut costs by 80-90%.

Sage Intacct is a cloud-based accounting solution that offers much, much more. It provides CRM functions that will integrate your business processes with your systems that serve your customers for seamless real-time, multi-dimensional reporting at every level and across entities.

An all-in-one cloud-based, integrated system that helps you streamline your business processes, streamline payment processing, increase efficiency, and allow secure access to your critical data from any place at any time while helping you accelerate your time to close.

You will be able to throw away those mind-numbing excel spreadsheets with Sage Intacct’s automated, fast consolidations that will provide the business insights you need at every level of your business and across all entities.

Your business will benefit from Sage Intacct’s deep accounting capabilities, including payroll, tax filings, and inventory tracking tools, designed to work across multiple industries to accelerate your growth and success. You can make better, quicker decisions with real-time business insights.

Scalability is crucial, and Sage Intacct puts you in a great position to drive growth by automating the complete range of primary and complex accounting processes so you can focus on analyzing your real-time business performance.

With multi-entity and multi-dimensional financial visibility, Sage delivers pure power to the heart of your financial accounting system and automates accounts payable to streamline manual processes and eliminate inefficient workflows.

Sage Intacct purchasing creates structured, pre-defined transaction and purchase approval workflows that increase purchasing speed, accuracy, and efficiency.

The order management module streamlines complex quote-to-cash processes and is sophisticated enough to handle high order volumes, processing complexities, and inventory challenges.

You can rest assured that you can trust Sage Intacct to be secure and reliable with a 99.8 % uptime, airtight data security, and comprehensive disaster recovery. Sage Intacct has completed SSAE 18 SOC 1 Type II, SOC 2 Type II, and ISO27001 audits. It is PCI certified because Sage understands that you’re entrusting us with your business’s most private, most critical data. Sage Intacct is the first and only preferred financial management solution endorsed by the AICPA.

Real-Time Visibility For Wealth Management, Securities & More

It’s time to take control of your accounting and streamline consolidations, eliminating the need for excel spreadsheets with a modern cloud-based platform that maximizes productivity and performance. Capture accurate, consistent visibility into every account, entity, and location. Manage multiple currencies and leverage automated compliance processes for your financial regulations. Close out in minutes at the push of a button and pull up real-time analytics to quickly review your organization’s profitability, recognizing various revenue streams, to better drive strategic business decisions and organizational growth.

Contact Us

5 Signs And Symptoms You’ve Outgrown QuickBooks

5 Signs And Symptoms You’ve Outgrown QuickBooks

QuickBooks is the preferred accounting solution for over five million users. It’s the industry standard for start-up businesses looking for a user-friendly, low-cost accounting solution. QuickBooks was likely your first purchase when you started your business, and you may still be using it.

Many businesses are quick to learn that as your company grows and you develop more demanding and varied business requirements like multi-currency and multiple entity businesses, QuickBooks is limited and no longer meets your business needs.

Suppose your business can identify with the following situations listed below. In that case, you are probably at a point where you have outgrown QuickBooks and need to consider shifting to a cloud-based accounting solution to handle the complexities of your growing business.

Financial Reporting

QuickBooks customers generally agree that QuickBooks is a good tool for financial reporting, but like most tools, it has limitations. While you can create reports in QuickBooks, it’s challenging to turn on and use features like classes or locations or add custom entries like inventory management information or revenue projections into your reports.

These limitations make QuickBooks report generation a tedious and time-consuming process that you can’t afford as your company continues to grow. Cloud-based accounting solutions can solve more complicated reporting issues like visibility across entities, multi-currency transactions, and compliance.

Lack Of Integration Causes Inefficiencies And Reduces Visibility Into Your Business

QuickBooks lacks the ability to integrate with most third-party software, which means users don’t have access to a single, unified database from which to pull and analyze all of their critical data. When you use spreadsheets or other non-integrated software with QuickBooks, those disconnected databases require users to input data manually, which causes data entry errors and also forces a lot of duplicate data entry in multiple databases, wasting time and effort. This is an inefficient approach, and as a business grows, it diverts resources away from more pressing concerns such as customer service, marketing initiatives, or in-depth financial analysis.

A lack of integration also eliminates instant access to data across the enterprise. If you need real-time visibility into your operations on a daily basis, then you can benefit from the automation a cloud-based accounting solution can offer. It will streamline your processes, eliminate duplicate entry, provide that real-time visibility at all levels of your business and across entities and save hours of time and productivity that can be better utilized in other activities.

Your Personnel Is Growing, And Access Issues Are Becoming More Frequent

As your business grows, so does your staffing. Unfortunately, QuickBooks has an upper limitation on the number of concurrent users who can access the QuickBooks Enterprise system, and that number is 30. If your business is near, at, or exceeding 30, then it is definitely time to look for a solution without that limitation and a cloud-based accounting solution that allows access anytime from anywhere.

Your Industry-Specific Niche Requires More Flexibility from Your Software

QuickBooks is a generic product. It was not built to handle the unique requirements of a specific industry.

Industries like Construction require project management capability, or manufacturing companies or restaurants with multiple locations require integration with 3rd party software in order to track inventory and expenses by specific criteria and across entities. These are things a cloud-based accounting solution like Sage Intacct can do with ease that QuickBooks cannot handle.

Multi-Currency

Although QuickBooks added Multi-currency functionality, it is a very limited application, and it is strange in the way it works. Some US versions cannot access this functionality, and once it is turned on, it cannot be turned off. The other issue with QuickBooks multi-currency is that your home currency cannot be changed.

If your business is global and you engage in many multi-currency transactions, that is a sure sign you need a more flexible cloud-based accounting solution that can handle all of your multi-currency transactions and provide accurate reporting and compliance.

If your company can identify with any of these scenarios, it is time to look for a cloud-based accounting solution that can scale with your company as it grows and deliver the automation and real-time visibility and reporting you to need to remain competitive. Sage Intacct has the flexibility and integrations you need to keep your company growing, whatever your niche or industry.

Contact Us

The Reason We Celebrate July 4th With Fireworks

Have you ever wondered how the tradition of celebrating Independence Day with fireworks began? Well, the truth is fireworks have a very long and colorful history. Still, the tradition of using fireworks to celebrate July 4th actually dates back to the summer of 1776, during the early months of the Revolutionary War. 

 

On July 1st, the delegates of the Continental Congress were debating whether colonies should declare their Independence from Britain’s Parliament and King George III. That night, they received news that British ships had sailed into New York Harbor, posing an immediate threat to the Continental troops under the command of George Washington. 

 

On July 2nd, delegates from 12 colonies voted in favor of Independence, New York followed suit a little later on July 9th, and the motion passed. 

 

On July 3rd, as Congress was revising a draft of the declaration written by Thomas Jefferson, John Adams, with great excitement, wrote to his wife Abigail stating, “the Second Day of July 1776, will be the most memorable Epocha, in the history of America,” “I am apt to believe that it will be celebrated, by succeeding generations, as the great Anniversary Festival….It ought to be solemnized with Pomp and Parade, with Shews, Games, Sports, Guns, Bells, Bonfires and Illuminations from one end of this Continent to the other from this Time forward forever more.” 

 

Although Adams wasn’t quite right about the date, his prediction has certainly come true. 

 

On July 4th, after 86 edits to the draft, Congress officially adopted the Declaration of Independence. Although there were impromptu celebrations that accompanied the declaration’s first public readings, the first official organized celebration of Independence Day came on July 4th, 1777, in Pennsylvania. We have the following historical account of that celebration : 

 

“About noon, all the armed ships and gallies in the river were drawn up before the city, dressed in the gayest manner, with the colors of the United States and streamers displayed.”

 

Each ship’s cannon fired a 13-gun salute in honor of the 13 colonies, followed by an elegant dinner, a military demonstration, and a performance by a Hessian band. “The evening closed with the ringing of bells,” as reported by the Evening Post, “and at night there was a grand exhibition of fireworks which began and concluded with 13 rockets on the Commons, and the city was beautifully Illuminated.”

 

That was the beginning of a tradition of celebrating Independence Day with picnics, parades, speeches, and fireworks displays that continued to spread even though Congress did not officially recognize the day as an official holiday until 1870.

 

We wish everyone a safe, happy and festive Independence Day Celebration! 

Contact Us

Build Your Business With Financial Consolidation

Build your business better and grow smarter with financial consolidation. It isn’t easy keeping track of the financial performance of each branch, franchise, or entity within your organization. The more your company grows, the more complex your financial reporting becomes.

Consolidation makes it easy and helps you build and scale your business smartly.

Consolidation will help you understand each individual location’s and each entity’s performance by providing fast, reliable real-time data and business insights at every level of your organization. You can drill down for details on the performance of a specific location or look at the reports to see your organization’s overall performance. Accurate, consistent reporting in real-time, along with the ability to run monthly financial statements, help your company forecast, budget, and grow organically.

A cloud-based accounting solution will provide consolidation through an automated system that will streamline processes, reduce errors, increase efficiencies across the organization and introduce consistency across all entities of your organization with tools such as charts of accounts to streamline how data is recorded for your organization.

Real-time, reliable data is the cornerstone for generating accurate reports and analyzing business performance. It is a crucial piece of consolidation. With Sage Intacct, you get reporting tools that provide that high-level overview but also allow you to drill down into each entity or location to get a granular view of their performance. Having that 360-degree view of your organization’s financial performance will make it much easier to measure the effectiveness of each entity or location and fix any problems or inefficiencies affecting a specific entity or your organization as a whole.

Financial consolidation is a continuous process that focuses on sustainable workflows between companies and entities. The focus on workflow efficiency and standardization helps ensure that you adhere to rigorous standards, and ultimately that helps to make certain new systems fit your organization’s specific needs. Any issues can be addressed case-by-case until you’ve established the best practice for your specific situation.

One of the most important benefits of the Sage Intacct accounting solution is that it significantly reduces reporting time and speeds up close cycles from months to days. This allows stakeholders and auditors to receive accurate reports much faster. Companies have the ability to track performance in real-time to make faster, well-informed strategic decisions.

The right cloud-based accounting solution can deliver everything you need for your multi-location organization with automated financial consolidation accounting activities that include currency conversions, inter-entity transactions, real-time data and reporting, and streamlined processes and workflows that will eliminate manual effort so you can close books faster and bring on growth.

Contact Us

The New Competitive Edge-Real-Time Accounting

The New Competitive Edge-Real-Time Accounting

We have all heard the expression “Time is Money,” which has never been more true for businesses than now. The ability to make quick decisions and be agile in the market these days is critical. Can you get real-time data from your accounting system? Is that data accurate and up to the minute? If you are still getting your data from spreadsheets, it’s time to move to cloud computing. Sage Intacct can deliver accurate real-time data, reporting, and much more that will give you the competitive edge you need.

It doesn’t matter if a transaction relates to a sale, purchase, inventory, HR, or types of transactions. With Sage Intacct cloud accounting, you get immediate access to up-to-the-minute data and real-time reporting across all entities for income statements, balance sheets, sales reports, and custom reports you can create so you can make informed decisions quickly and act proactively and strategically.

Finance teams are constantly seeking faster closes that reduce the time required to get out monthly or quarterly financials. The very techniques that speed up the closing process also enable a much more sophisticated level of real-time reporting, so your entire organization is aware of how your company is performing every day. That is key to gaining a competitive edge.

When your financial accounting software is updated and delivering data in real-time, you have the ability to issue a broader set of reports faster and more often. When you can issue-reporting more frequently, it reduces the pressure on your month-end financial reporting because your managers and executives already have insight and a handle on any problems, and they have the data they need to make informed or strategic decisions at any point in time. The other key benefit of real-time reporting is that a cloud-based accounting solution pulls data from different entities and sources and does the consolidations automatically. This eliminates time-consuming handoffs, manual data entry, external spreadsheets, and data entry errors that can slow down your financial reporting.

With a cloud accounting solution, you get 24 hours a day, 7 days a week, access to your real-time data from any place, at any time. Having access to that real-time data lets, you check your business performance and profitability. You can compare results to previous periods and get an in-depth look at each entity as well as insight into the overall performance and profitability across entities. This access to real-time data at any time also helps you identify areas of pain and areas of improvement so that you can be proactive and reorganize and restructure while also boosting your profitability and company growth. You will be able to get instant assessments on all of your margins and profits so you can be agile and make any necessary adjustments to reduce overheads, increase or decrease prices and stay ahead of your competitors.

The decision window for executives continues to shrink every year. The need to access and disseminate Information has become real-time and on-demand. The Sage Intacct cloud accounting solution resolves the challenges finance functions face to try and keep pace with all of the modern sources of insight and analysis that are available. You will have all of that data in real-time and not only for one company, but across all of your entities, so you have complete insight and control over what is happening at every level to make strategic, well-informed decisions quickly to keep your companies profitable and growing.

Contact Us

Benefits Of A Cloud-Based Accounting Solution Benefits Of A Cloud-Based Accounting Solution

Benefits Of A Cloud-Based Accounting Solution

Cloud-based Accounting Solutions deliver the deepest and broadest accounting capabilities across the board, from payroll and HR to inventory tracking, tax filings, and currency conversions across multiple industries, designed to scale your organization and accelerate your business success.

What are we talking about when talking about cloud-based accounting and computing? At its core, cloud computing is simply a way of delivering essentially any type of computing service using the Internet. Cloud-based computing and online accounting software help with security and access to many kinds of online and computer data, including databases, software, storage, networking, analytics, and more.

All that a business needs to take part is an internet connection. That means that all of the files you are currently using and storing along with the systems you are running using clunky servers can be transferred to a platform that can be accessed around the clock from anywhere. Entering the cloud removes the constraints and obstacles that keep your team from working as quickly and efficiently as possible. It also allows you to obtain real-time data and analytics rather than having to wait for reports and insights created from manual reports.

All aspects of business accounting and operations can be handled using cloud-based technology. Developers are free to create new apps and services on any platform using resources that ensure all compliance requirements are met.

So what sets the Sage Intacct cloud accounting solution apart from other more rigid suite cloud accounting solutions? The answer is in the level of sophistication. Sage Intacct is highly flexible and easily integrated with other industry-specific solutions. You can be more productive and receive real-time data and information to gain quick insights into your organization at all levels and quickly make insightful business decisions. Sage Intacct fosters strategic decision-making to drive growth by providing automation for all your basic and complex accounting processes so your team can focus on analyzing real-time performance to gain that competitive edge in the market.

Benefits of Sage Intacct Cloud-based Accounting Software

  • Best in class, multi-dimensional reporting
  • Real-time insights across multi-entities
  • Fast Consolidations
  • No excel spreadsheets
  • A single integrated system
  • Secure access to key data from any place at any time
  • Streamlined processes
  • Eliminate inefficient workflows
  • Increased efficiency
  • Faster close times
  • Lower cost
  • Enhanced Security
  • Unlimited productivity
  • Structured, pre-defined transactions and purchase approval workflows to increase purchasing speed, accuracy, and efficiency
  • streamlines complex quote to cash processes, handles high order volumes, processing complexity, and inventory challenges
  • Multi-entity and multi-dimensional financial visibility
  • Real-time dashboards and reporting
  • Automates Compliance and tax filings in local currencies

In order to drive growth, you need quick, insightful information and data. You need a cloud accounting solution that can scale with your organizational growth, whether you are a multi-location, national or global enterprise. You want a solution you can access 24/7 from anywhere on the planet. The first and only preferred cloud accounting financial management solution endorsed by the AICPA is Sage Intacct- there’s a reason- don’t hinder your organizational growth any longer- find out why.

Contact Us

How Complex Are Your Business Finances?

How Complex Are Your Business Finances?

No two businesses are exactly alike. Every business has unique financial needs. Suppose your company finances are complicated and include multiple entities or locations. In that case, you may be looking for more powerful real-time accounting solutions to provide you with a better view of your entire operation and help with things like taxation, HR, multiple currencies, and more.

If your business is facing complex financial challenges, Sage Intacct can help. It is a cloud-based solution that provides real-time data and analytics that give you visibility across all entities and locations. You get the information you need to manage each entity efficiently and effectively while also receiving the overall visibility to manage your business strategically.

Sage Intacct helps you improve productivity across the board while reducing costs and streamlining processes like purchasing, payables, closings, consolidations, reporting, and analytics.

You will love the intuitive real-time financial dashboards, the ability to drill down deep into the data with unlimited dimensions, and the ability to create custom ad hoc reporting. These functions provide you with everything you need to quickly gain new insights into your business. The ability to receive those quick business insights also helps you respond to rapidly changing market conditions, so you remain highly competitive in a very demanding business environment.

The benefits don’t end there. 

  • Streamline your payment processing, increase efficiencies and, on average, reduce processing costs by 70%.
  • Secure access to your key data from anywhere, at any time, because your accounting solution is cloud-based
  • Seamless scaling without adding headcount
  • Ability to implement user-access controls
  • Use dimension values to capture your business transactions, operational measures, and budgets in General Ledger
  • Ability to view performance on U.S. GAAP, IFRS, and cash base side by side for better visibility
  • Report on tax, country, or industry-specific bases with ease
  • Define your own workflows
  • Implement guardrails for consistency and accuracy with user-defined transaction steps, approvals, smart rules, and dimension controls
  • Gain complete visibility across your company with the ability to create accounts payable liabilities, vendor-aging and bill and check register reports in real-time
  • Set spending limits to maintain budget compliance with Sage Intacct Spend Management
  • Ability to analyze AR data from a variety of perspectives, like revenue over time or collection activity on customer accounts, to get a complete view of your business
  • Create quotes, sales orders, backorders, invoices, returns, credit memos, debit memos, and more with ease and rapidly deliver them via email

When you need powerful accounting software, you need Sage Intacct. It can handle any accounting situation and is customizable to your unique situation. If your business deals internationally, Sage Intacct is particularly helpful in dealing with currency conversion issues and local taxation and form filing. You won’t find a better accounting solution for businesses with complex financial challenges and needs.

Contact Us

Grow Your Restaurant Chain With The Right Accounting Solution

Owning a restaurant chain or several restaurant franchises can be challenging when it comes to accounting and being able to consolidate all your reporting and records. It is hard to make informed, strategic decisions regarding growth when you can’t get a complete picture of what’s happening within each restaurant entity and across all of your chains. There are a lot of accounting solutions on the market but only one that can provide you with all the information you need to make those critically important growth decisions. Sage Intacct cloud accounting software is the solution you’ve been looking for to grow your restaurant franchises, reduce your costs and boost your profits.

One of the best features of Sage Intacct’s franchise accounting software is that it supports almost any business structure, including fractional ownership and other complex operational structures. Each location, franchise, or entity can use its own chart of accounts, taxation rules, and financial reporting requirements while also providing the organization with a view of everything.

Drill down to entity source transactions, receivables, and payables to get complete details.

Sage Intacct provides a sophisticated multi-dimensional general ledger. This provides much more detailed information faster by enabling restaurants to streamline their chart of accounts. It also provides visibility into each entity and across all entities, locations, and brands with the push of a button. Instead of consolidations taking days, you can complete consolidations in minutes and automate inter-entity eliminations. Most restaurants have accelerated their close by up to 65%.

With robust reporting capabilities and user-friendly dashboards, you will be able to make data-driven decisions with real-time visibility into the performance of your restaurants and entities. You get access to over 150 standard reports as well as the ability to create your own custom reports to get actionable insights that will help you make those strategic decisions moving your organization in the right direction. With Sage Intacct, you can track programs, costs, menu profitability, and much more using role-based dashboards.

Because Sage Intacct is a truly cloud-based application, you can leverage the power of the cloud with any time, anywhere access and easy integrations that allow you to scale your organization at your pace. Sage Intacct offers fast, easy connection to best-in class-systems so you can connect to any or all of your restaurant systems seamlessly and eliminate duplicate data entry from one system to another. With Sage Intacct as the hub of your technology stack, you will be able to boost your efficiency and productivity and cut costs and increase your accuracy.

Use Sage Intacct’s order management module to help you streamline complex quote-to-cash processes and handle high order volumes, processing complexity, and inventory challenges that restaurants often struggle with.

Cash management allows you to gain a complete picture of your cash and working capital with real-time visibility.

Use Sage Intacct Purchasing to increase your purchasing speed, efficiency and accuracy by allowing you to create structured, predefined transaction and purchase approval workflows.

When you automate your accounts payable, you will save thousands of hours by streamlining manual processes and eliminating inefficient workflows and duplicate data entry.

When you need a powerful, accurate accounting solution to handle complex financial structures and national or global franchises, you need the power and scalability of true cloud accounting with Sage Intacct.

Contact Us

How Financial Consolidation Can Help Your Business Portfolio

How Financial Consolidation Can Help Your Business Portfolio

With the advent of automation, you’d think all companies would transition to a cloud accounting solution. However, you would be surprised to learn how many companies are still working with QuickBooks and Excel spreadsheets and have a portfolio comprised of many different businesses that make it nearly impossible to determine the health of each organization, let alone the overall health of the company.

There’s good news for companies looking for a better way to consolidate financials in real-time. With Sage Intacct, your firm can consolidate hundreds of entities in minutes instead of days and boost productivity by more than 50% while finding money, creating visibility within each business and across enterprises. You will regain control of your business financials quickly and easily.

In this article, we’ll define consolidations, explain why it is an essential function in business today, and provide direction for how to get started with consolidations in your company.

When you combine assets, liabilities, and other related financial items of more than one entity, you are engaging in the act of business consolidation. This means all subsidiaries report under a parent company’s umbrella. The more companies you have, the more vital this ability becomes for the success of your financial growth.

Sage Intacct has accounting for multiple entities that automates financial consolidation accounting activities, including currency conversions, inter-entity transactions, local tax reporting, and more. This eliminates manual work so you can close the books faster, increase accuracy, and streamline processes to create new efficiencies and insights that will propel company growth.

Why Are Consolidations Essential?

Consolidation using Sage Intacct helps your business gain control over all the financials. It provides visibility across all entities for better insights into how each business and your company is performing.

You gain essential real-time data and business insights that help you make informed decisions regarding growth. You eliminate manual data entry and spreadsheets, gain the ability to create customized reports, and manage multiple entities within a single system. You also gain a role-based dashboard with live-data access even when away from your desk. It saves you time and money, freeing you to focus more on strategic decisions. Consolidating creates streamlined visibility of all your financials in one easy-to-access cloud-based location.

Financial Consolidation Sets Your Business On the Path to Success. If your current accounting software doesn’t provide complete real-time visibility and consolidation of data tracked from every entity and group and provide your Investors and Stakeholders with minority and majority views. In that case, you will be severely limited in the operation of your business.

If you are spending untold hours gathering and manually inputting data for your vital reports, you lack the basic capacity for deferred management of revenue. Your reports are disconnected from the operations of your business, and you have revenue leakage. Sage Intacct solves those issues. You can stay on top of finance challenges by leveraging the automation you have in Sage Intacct. — You can rest assured that you will get rock-solid financials and operational metrics. You will have the kind of results and analyses you’ll need to see your entire business as you go through venture financing and an IPO. The best part is that the Sage Intacct Solution is fully scalable and ready to grow with your business.

Contact Us

  • 1
  • 2
Trusted CFO Solutions

Trusted CFO Solutions is an advisory and accounting solutions firm with a proven track record of helping clients create... Click to learn more.

Sage Intacct Partner

Contact Us

400 Interstate North Parkway, #310 Atlanta, GA 30339  855-236-2384

© Trusted CFO Solutions — Sitemap.

Site by JSM.