If you’re running your Multi-Entity business on Microsoft Dynamics GP (Formerly known as Great Plains), how’s that working out for you? I mean, sure, you’re pushing forward and your business is obviously growing. But really, how efficient is your business running? The answer may not be so obvious.
Power isn't everything
If you’re running on Dynamics GP, that’s a lot of horsepower under the hood. After all, GP is powerful and more than capable of operating a business with multiple companies. Whether you’re talking 5 or 50 entities, GP is certainly capable of getting by. But sometimes power isn’t everything.
GP was developed with one major flaw when it comes to multi-company processing. Each company is in its own database, their own islands of information. But that’s not the best way to operate. You’re jumping from one company to another, one issue to the next. Having to log in and out of companies just slows you down. And how about having to enter everything multiple times? So, when you get a new customers, you are most likely having to enter their information into each company. Not very efficient. And how about finding out what that customer owes you from the group of companies? Not that easy. For a system that has a powerful engine, you’d hope the answer would be a resounding yes, but that’s not necessarily the case. What about online access?
Testimonial
"We’ve eliminated (at least) two outside programs/processes that we previously utilized for reporting purposes. We look forward to building upon the Microsoft Power BI dashboard capabilities in Gravity to provide additional analytics and insights into our growing business."
Shawna Bailley, Director of Accounting, 360 Destination Group
Database management: Who does it better?
When it comes to maximizing efficiency for any business, optimal database management is crucial for success. This is even more applicable for a multi-company business. With multiple companies to oversee, you have more than enough shifting variables to worry about. Data management (security and accessibility) shouldn’t be one of them. Ideally, you’d have a single database to manage for your entire business, one in which data from all companies is successfully consolidated at all levels, not just financial. Unfortunately, with Dynamics GP, you’re forced to manage a separate database for each entity. Just think about how great it would be if you had an accounting solution and operational system that provided a single, consolidated database for every entity under your business umbrella. If only there was a way…
Sometimes you just have to look up into the clouds for the best answer. Gravity Software® (Gravity) has developed an amazing multi-company model that can dramatically increase your productivity. To start, Gravity increases operational efficiency by providing a single database for all of your companies. After all, where is it written that just because you have multiple companies, that you have to manage multiple databases? By consolidating your companies’ data into one database, you’re saving time by…
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Not having to log in and out from one database to another. Imagine having to jump from one to the next every time you need an answer. Now imagine not having to do that anymore!
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Eliminating redundant data entry. If two or more of your entities have a business relationship with the same customer, you’ll only have to enter their information once.
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Ensuring proper security measures and access protocols for every employee at every entity.
Want more great news? The perks and benefits of running with Gravity don’t stop with database consolidation.
How does Gravity benefit your multi-company business?
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Multi-Company Operational Reports–With Gravity, you no longer have to concede hours to produce consolidated Aging and other Operational reports. Instead, in less than 2 minutes, you can select the AR Aging Report, select the companies to include in the report, and view it. Not only are you able to consolidate financial reports, but operational reports as well. Select the report, select the companies and print. Click and print, how easy is that?
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Inter-Company Billing, One and Done–In Gravity, you can set up inter-company billing templates to determine the voucher distribution for the receiving company. Next, create the invoice in the parent, then a voucher is automatically created and posted in the subsidiary’s payables. One step: one and done.
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Inter-Company Transactions – What if your vendor invoices you for supplies for five restaurants on one invoice? In most systems, that will end up being five separate transactions. A transaction in the company paying the bill and four separate transactions for the other companies to pay back the first. What if you made a mistake in one company? Then your inter-company accounts will be out of balance. Crazy inefficiencies. In Gravity, you can create one voucher, distribute it into multiple companies and you’re done. The inter-company accounts are perfectly in balance. One transaction instead of five, every company balanced.
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Shared Master Files –In Gravity, you can setup a vendor (or customer, account number, etc.) once and share it with the appropriate companies. You can even make it private to only one company. Only one record to maintain, not multiple. Change the address once and every company is up to date. In short, no more redundant entries.
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Multi-Company Cash Receipts –With Gravity, when a customer pays multiple companies with one check, there’s no need to update Accounts Receivable in each company. All you need to do is enter the Payment once, select all the invoices paid from all the companies and you’re done. One transaction, every company is up to date and no mistakes. Accounts Receivable is perfect, inter-company accounts are in balance and month end is easy.
Gravity Software
Better. Smarter. Accounting.
