Multicompany Balance offers great simplification for loading and processing the balances of companies of the same group.
Mago4 – Multicompany Balance
If you have to manage the balances of several companies of the same group, Mago4 has a tool for you that will simplify the whole process. Multicompany Balance quickly collects and processes for you the balances of each controlled company, leaving you full possibility to review any data, managing different currencies.
With Mago4 you can adapt your chart of accounts to that of the respective controlled companies. In this way you can standardize the accounting grouping criteria of each company in multicompany balance. You can also choose whether to exclude from the balances all accounts that refer to intercompany transactions, or rather all operations carried out between companies of the same group.
FOREIGN CURRENCY CONSOLIDATIONS
What if the controlled companies are foreign multinationals? Mago4 allows you to convert balances in foreign currency at the required fixing rate, thanks to the consolidated templates used to generate the balances. In this way balances can be expressed in different currencies. If necessary, you can still review and correct the balances before sending them to the controller company.
INTEGRATION WITH GENERAL LEDGER
Thanks to the flexibility of Mago4, you can keep the details of the amounts of each company and avoid losing important information in data transfer and in accounting records. Perfect integration with the Financial module allows you to print and analyze the Multicompany Balance using the large number of available reports.