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As an ERP consultant team that works with Intacct and other ERP solutions, we often get questions from our mid-market customers about how to handle expense allocations in a multi-entity environment. Since other Intacct customers likely face the same scenario, we’re sharing two options for handling an allocation. Both provide for significant automation and time savings. Please contact us with questions related to multi-entity management or other ERP system needs. Our direct number is 312-461-0505 or seth@ndhcpa.com.
ERP Consultant Reviews Multi-Entity Expense Allocation:
Receipt of bill: A $10K bill is received with the intent to allocate equal portions to each of three legal entities. In the first scenario entity 1 pays on behalf of entities 2 and 3. In the second scenario each entity is responsible for paying their portion of the bill (thus, holding the trade payable on their respective books). In both scenarios, an allocation template is used to apportion one-third of the cost to each entity.
If you are considering what ERP solution is a best fit for your business, let us help you consider your options with a free ERP consultation from our solution specialists. At NDH Group, Ltd., our team of ERP consultants have the experience to help take your business to a new level. We support leading cloud-based ERP solutions like Intacct and NetSuite along with our full service accounting and technology practice.
- Discovery survey to determine your business's system needs
- ROI study for payback of a system implementation
- Migration plan from your “as is” to “to be” system
- Segmentation modeling for reporting of your business results
Visit us at www.ndhcpa.com or call 312-461-0505. We are based in Chicago, IL and service customers nationally.
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