Intercompany accounting can be a particular burden for small and medium-size businesses (SMBs) that are expanding their organization structure in order to enter new markets or accommodate increased supply chain complexity. At the same time, SMBs do not have the internal resources to perform the necessary manual accounting adjustments. Additionally, many simple accounting systems affordable for SMBs lack the functionality to properly handle multiple entity or branch accounting.
But all these issues are addressed with WinGold Next. WinGold Next “Branches” functionality in combination with “Intercompany Accounting module” to best represent multiple related companies so a company with several businesses under its umbrella doesn’t have to reconcile the intercompany transactions.
Ideally, the accounting across all business operations should be performed by and captured in a single system. In such a system, transactions between businesses units are “posted” in both simultaneously, so that inventory, cash, payable, and receivable balances accurately reflect current levels, and transactions are not duplicated.