Skip to main content
Multi-Company Accounting

Multi-Company Accounting

Multi-Company Accounting in abas ERP

The increasing globalization of mid-sized companies has resulted in increasingly complex financial data. Group accounting has become a business challenge, as information must be gathered from numerous cities or countries, different currencies, and internal entities. abas ERP helps you to increase visibility, standardize your business processes and streamline data management.

As standardized as necessary, as individual as possible

abas ERP analyzes and pulls together all data on business areas, companies and countries according to the requirements you define – even across different fiscal years, different currencies or different account structures. abas can also provide one-to-one mapping of all common types of integration with subsidiaries and sister companies. Group accounting helps you to maintain data centrally in a shared database, perform transactions and closings, adjust for internal sales and create evaluations. As usual with abas, this is all done with user-friendly dashboards and practical workflows.

Developed for growth

abas ERP helps you to prepare your accounts for your consolidated account statements. The visibility of the information across company and national borders makes it much easier to compare your individual companies and contribute to the success of the entire corporate group. 

With abas ERP, you are perfectly prepared for your international financial accounting. And if your group grows, your ERP system will simply grow with it.

  • Centralize group finances

    Efficiently manage data for various companies, conduct transactions and closings, invoice internal sales, and create reports for individual companies or company groups in a single, central database.

    Data exchange
  • Exchange financial data

    The financial accounting data from the separate clients of the locations must be transferred to the consolidation client. For example, the totals and balances list, or the balance sheet and the profit and loss statement, can be the basis of the consolidation.

    consolidation
  • Consolidation

    Group accounting makes it possible for you to consolidate the advance VAT return of multiple single clients. This is, for example, required in companies with different branches.

    Consolidation

Choose functional detail to see more

Managing financial transactions and reports is no easy task; but when doing it across multiple companies it becomes exponentially more difficult. With abas ERP it doesn’t have to be with very accessible centralized financial, inventory, and customer information.You can easily analyze data from one or multiple companies.

With abas ERP’s multiple company accounting features, you can run as many companies as you need to, completely isolated, with separate logins and security - all from a single database. This allows you to consolidate financial and operational reporting without using Excel to combine reports.

With abas’ inter-company functionality allows two companies of the same entity to have an automated flow of transactions. This not only builds better business relationships but also streamlines costs based on changes in supply and demand. Automatic data synchronization allows for easy data replication, saving time and reducing errors.

The financial consolidations functionality in abas ERP allows you to easily combine reporting for several entities, giving you a complete picture of your financial and operational data in one place.

Get Your Copy - Selecting an ERP System in 7 Easy Steps
Selecting an ERP System in 7 Easy Steps
CLICK TO DOWNLOAD
Selecting an ERP System in 7 Easy Steps
pink

Why consolidated accounting is relevant for ever more companies

In the course of globalization, many companies – including mid-sized companies – are developing into “global players” with international locations or subsidiaries. If a company belongs to a group, its financial statement becomes less meaningful to creditors and investors due financial links within the group. To obtain access to international capital markets, many countries demand a consolidated financial statement, which maps the fixed asset, financial and earnings performance of the entire economic entity as transparently as possible – for example to enable the liquidity and earning power to be assessed objectively. 

The obligation to create group accounts is determined by national  laws, stock exchange regulations or other agreements. The relevant accounting regulations also stipulate which companies must be included in the consolidated account statements (consolidation scope). For example, corporations in the USA must prepare their accounts in accordance with the US-GAAP standard, while companies in the EU Member States, whose securities are traded on the stock exchange, have been creating their consolidated account statements in accordance with IFRS rules (International Financial Reporting Standard) since 2005.

For the majority of mid-sized companies, application of the complex IFRS rules is not yet compulsory. The International Accounting Standards Board (IASB) did, however, define international accounting standards for SMEs (International Financial Reporting Standard for Small and Medium-sized Entities - IFRS for SMEs) in 2013. The trimmed-down version of the IFRS enables international SMEs to balance their accounts in a simplified form, in accordance with internationally comparable standards. For in addition to providing advantages in negotiations with potential investors and business partners, consolidated account statements also make accounting easier. By merging individual financial statements into a consolidated account statement, there is no longer any need for time-consuming adaptation of the various national accounting standards. A group-wide, transparent and traceable reporting format also allows for faster identification of negative business developments at the different locations.

During preparation of the consolidated account statement, internal transactions between the individual companies of the group are adjusted – the “consolidation” aspect. For capital consolidation, the investments of the parent company are offset against the equity capital of the subsidiaries. The interim expense and income consolidation procedure factors out deliveries and services within the group, i.e. profits that resulted from the relationships between the individual companies. Group-internal receivables and payables are absorbed in the course of debt consolidation. To provide a true impression of consolidated sales, the expenses and income from relationships between the companies in the consolidation scope are also ultimately eliminated (expenses and income consolidation). 

Important: The consolidated account statement is for information only. The distribution of profit and income taxes are calculated based on the companies' individual financial statements.

703-444-2500
+43 1 319 15 19
+49 721 96 72 30
703-444-2500
+38 061 21 37 855
+420 241 931 544
+31 (0)85 3033 555
+421 903 717 980
+55 - 11 5054 - 5500
+852-2793-3317
+91 77559 04373
+62 (21) 293 19 366
+603-56124999
++94 76 666 9070
+66 81 6297375
+359 2 423 61 56

Contact

Your consent can be withdrawn at any time by sending an email to [email protected] . We assure you that we will treat this information as strictly confidential and that it will be used by abas Software GmbH and abas partners only (privacy policy).

Products

Document Management

EDI & High-Performance Logistics

Business Process Management

North American Headquarters

703-444-2500
abas USA
45999 Center Oak Plaza
Suite 150
Sterling, VA20166

North American Headquarters

703-444-2500
abas USA
45999 Center Oak Plaza
Suite 150
Sterling, VA20166

Infocom Ltd.

+38 061 21 37 855
bul. t. Shevchenko, 56
Zaporozheye
69001

amotIQ sro

+420 241 931 544
Belnická 603
252 42 Jesenice u Prahy

ABAS Business Solutions Nederland BV

+31 (0)85 3033 555
abas Netherlands
Beilerstraat 24
9401 PL Assen

amotIQ sro

+421 903 717 980
amotIQ sro
Palarikova 36
900 28 Ivanka pri Dunaji

SHP Informática Ltda

+55 - 11 5054 - 5500
SHP Informática Ltda
Alameda dos Jurupis, 452, 7°andar - Conjunto 73/74
Sao Paulo - SP 04088-001

abas Business Solutions Limited

+852- 2793-3317
abas Hong Kong
1621, New Tech Plaza
34 Tai Yau Street
Hong Kong

abas Force India Pvt. Ltd.

+91-77559-04373
abas India
303, Aspiro Complex, Opp. Thyssenkrupp,
Pimpri Stn. Road, Pimpri,
Pune 411018

PT. abas Information Systems

+62 (21) 293 19 366
abas Indonesia
11620 Taman Aries, Jakarta barat Jakarta
Grand Aries Niaga G1-2H

Synchro RKK Sdn Bhd

+603-56124999
abas Malaysia
Sunway Geo Avenue,
Jalan Lagoon Selatan
Sunway South Quay,
Bandar Sunway
Subang Jaya Selangor 47500

Providence Global Pvt Limited

+94 770415387
Providence Global Pvt Limited
752/1
Dr De Silva Mawatha
Colombo 09

Wisdom Information Systems

+66-29340451/52/53
Wisdom Information Systems
208/5 Ladprao Soi 126
Bangkok 10310

abas Бизнес Сълюшънс България ООД

+359 2 423 61 56
abas Бизнес Сълюшънс България ООД
жк. Младост 1А, бл.553А, офис 1
1729 София