• (619) 483-4180
  • info@avantiico.com
Facebook-f Linkedin Instagram Youtube
Avantiico Microsoft Business Applications Solutions Partner. Microsoft Inner Circle Partner

AMCS Lite vs. Premium

AMCS by Avantiico, a robust accounting automation solution native to Dynamics 365, is now offered in free and premium versions. Find out how these solutions can automate time-consuming accounting tasks, enable multi-entity workflows, and allow for error-free posting across hundreds of legal entities.

Picture of Monty Montgomery

Monty Montgomery

Introduction

Managing the financials of multiple entities is a puzzling task, especially when you’re dealing with hundreds of subsidiaries, divisions, or branches. If left unchecked, these complexities can lead to inefficiencies and errors — making it all the more important to find the right tools to streamline these processes. 

You may have faced the classic challenges of multi-entity accounting: reconciling intercompany transactions, consolidating financial statements, and ensuring compliance across all entities. Without a robust accounting automation software, these processes can become cumbersome and prone to error. 

Enter the Advanced Multi-Company Solution (AMCS) by Avantiico, available on Microsoft AppSource and in both Lite and Premium versions. As a Dynamics 365 integration, existing D365 users can enjoy ease of setup, use, and its value in automating your multi-entity accounting tasks. 

Whether you’re looking to reduce manual efforts with the free version or need advanced features for more complex needs, AMCS can help you save hours of time while boosting accuracy and efficiency.  

What Are Multi-Entity Organizations?

A multi-entity organization is a company that has multiple legal entities, such as subsidiaries, divisions, or branches, that are spread across different locations, currencies, or business units.  

Each entity maintains its own chart of accounts and operates independently, but they’re all consolidated for overall financial reporting and management purposes. Without a sophisticated IT infrastructure, visibility across these entities can get complicated, leading to a siloed structure with higher operational costs.  

Industries with Multi-Entity Organizations

Multi-entity organizations span various industries, each benefiting from the ability to manage multiple legal entities under a single parent company. This structure allows for more precise financial management, easier compliance with local regulations, and better risk management. Here are some examples of industries that commonly operate as multi-entity organizations: 

  • Retail: Retail chains may have separate entities for different brands, store locations, or e-commerce operations to optimize management, adapt to local markets, and mitigate risk. 

 

  • Professional Services: Professional services firms (e.g., law, consulting, accounting) often have separate entities for different service lines, client segments, or geographic locations to specialize services, manage liability, and attract talent.

 

  • Third-Party Logistics (3PL): 3PL providers often have separate entities for different services, customer segments, or geographic regions to specialize operations and mitigate risk. 

 

  • Financial Services: Financial institutions may have separate entities for different business units (e.g., banking, insurance, investment), subsidiaries, or geographic regions to comply with regulations, manage risk, and diversify operations. 

 

  • Warehousing & Distribution: Companies may have separate entities for different warehouse locations, distribution channels, or temperature-controlled storage to optimize operations and improve customer service.

 

  • Property Management: Property management companies may have separate entities for different properties, portfolios, or types of assets to mitigate risk and optimize financial performance.

 

  • Financial Shared Services: Organizations with shared financial services often see bottlenecks with promptly consolidating data on a monthly and quarterly close basis, only to find their systems aren’t centralized.  
See All Industries

Dynamics 365 F&SCM for Multi-Entity Organizations

Microsoft Dynamics 365 Finance and Supply Chain Management (D365 F&SCM) is a lifeline for multi-entity organizations thanks to its depth of automation features, allowing for smoother workflows and streamlined operations. By improving connectivity between various legal entities, D365 F&SCM enhances visibility and coordination, leading to more effective and productive teams across all departments. It’s an ERP system that acts as the glue for your organization, helping you manage everything from financials to supply chain logistics with ease. 

What Is Multi-Entity Accounting?

Multi-entity accounting is the practice of managing financial transactions, reporting, and consolidation across multiple legal entities within a parent organization.  

For example, a healthcare company with multiple hospitals or a retail chain with hundreds of store locations needs multi-company accounting to ensure accurate financial records and compliance with local regulations. It’s key for companies that operate subsidiaries, divisions, or branches in different locations or industries, and particularly relevant for finance users of D365 F&SCM.  

Accounting Automation Can Save You Millions

Try It For Free!

The Complexities of Multi-Entity Accounting

Multi-entity accounting can be understandably complex. More legal entities can present higher risk for fragmentation, so it’s important to keep it all centralized and automate certain manual tasks. By using accounting automation software, companies can simplify multi-company financials and overcome complex issues, such as: 

Data Consolidation

Combining financial data from various legal entities into cohesive reports is challenging. Each entity may use different accounting systems, standards, and practices, making it difficult to aggregate data accurately. This process often requires significant manual effort, which only heightens the risk for inconsistencies and errors.  

Intercompany Transactions

Intercompany transactions need to be accurately recorded to ensure proper accounting for sales, purchases, and balances. However, complications can arise due to the need for precise tracking and reconciliation between entities. Without automation, this process can be incredibly time-consuming and prone to human error — but with robust automated accounting software by your side, you can improve financial accuracy while streamlining operations further. 

Heavy Manual Work for Accounting Teams

Accounting teams are all too used to certain manual tasks, from repetitive data entry and validation to reconciliation. These tasks aren’t just time-consuming, but they’re also vulnerable to human error. Thankfully, you can automate these processes with pinpoint precision and free up valuable time for your accounting team. 

Legacy Systems

Transforming or manually integrating data from old systems into new ones is a common challenge for multi-entity organizations. Legacy systems may be outdated, incompatible, or lack the necessary features to support modern accounting practices. However, transitioning to a unified platform can be costly and time-consuming. 

Still, it’s crucial to have a centralized financial management system for accurate data entry, consistency, and overall financial management. Often, there’s no need for rip and replace. AMCS by Avantiico, for example, integrates seamlessly with your D365 F&SCM, allowing you to start automating multi-entity accounting tasks without the need for a brand-new ERP.

What Is AMCS by Avantiico?

AMCS (Automated Multi-Company Solution) by Avantiico is an accounting automation tool that’s embedded within the Dynamics 365 dashboard, making it a quick and easy solution for existing Dynamics user adoption. 

Designed to streamline multi-entity financials, it automates large-scale accounting tasks, including multi-company journal posting, intercompany reconciliation, and financial consolidation. This automation reduces manual effort and errors, saving your accounting team hours of time while boosting reporting accuracy.  

AMCS expands the standard functionalities of Dynamics 365 Finance through a built-in integration platform. This lets you connect third-party systems to D365 Finance using a robust API/Data Bridge integration for smooth data flows.  

The solution also streamlines workflows with faster approvals within Microsoft Teams, making it easier for your team to work while reducing licensing costs. On top of all these benefits, the fully integrated super journal allows for ledger journal imports across multiple legal entities at once, leading to less clicks and more time saved. 

Automate & Save with AMCS Premium

Download the One-Pager

AMCS Lite vs. Premium

While AMCS Lite provides essential features that significantly improve efficiency and reduce errors, the premium version offers advanced functionalities for larger enterprises with more complex needs.  

Use Cases

AMCS Lite: Suitable for businesses with basic multi-entity accounting needs, looking to reduce manual efforts and improve efficiency. 

AMCS Premium: Ideal for larger enterprises with complex multi-entity structures, requiring advanced automation, scalability, and comprehensive reporting capabilities. 

Let’s explore the specific features of each version to help you determine which one best suits your organization:

AMCS Lite Features

  • Access to Avantiico’s Super Journal within the D365 structure. 

 

  • Import, validate, and post journals in multiple legal entities with one click, increasing speed and reducing errors. 

 

  • Enhanced import validations, decreasing the time spent on filtering through thousands of lines hunting down errors. 

 

  • Supports journal postings across multiple legal entities, reducing manual effort by your accounting team. 

Contact us or visit the AMCS Lite Microsoft AppSource listing to start your free trial.

AMCS Premium Features

  • Multiple legal entity creation with a singular import, shortening implementation time and increasing scalability. 

  • Automate intercompany postings, access composite data imports, and unlock dynamic mapping functionalities for imports. 

  • Integrate with other D365 modules or third-party systems through one-way integrations or Avantiico’s DataBridge. 

  • Global reporting feature, unlocking visibility across all legal entities with reports like Trial Balance, Intercompany Reconciliation, Vendor Aging, and more. 

Contact us or visit the AMCS Premium Microsoft AppSource listing to request a demo.

Standard D365 F&O/SCM vs. AMCS Lite & Premium

D365 FSCM-vs.-AMCS-Lite-vs.-AMCS-Premium

Limitations of Standard D365 F&SCM for Multi-Company Accounting

While Dynamics 365 Finance and Supply Chain Management (D365 F&SCM) offers a wide range of functionalities to help companies manage multiple legal entities, it does have certain limitations. 

No Native Intercompany Automation

One major limitation is the lack of built-in intercompany automation. Although D365 F&SCM can handle intercompany transactions between multiple companies, it doesn’t provide native automation for complex intercompany transactions or journal entries. This means that managing these transactions can be time-consuming and prone to errors. 

No Multi-Entity Posting

Another challenge is the lack of seamless multi-entity posting. D365 F&SCM doesn’t support multi-entity journal posting smoothly, which forces accountants to manually switch between companies, leading to higher risk for errors and inefficiencies. 

No Transactional Data Sharing

Global financial consolidation is also an issue. D365 F&SCM does offer cross-company data sharing, but not transactional data sharing. As a result, there’s no global reporting available in the standard functionalities, making it difficult to get a comprehensive financial overview. 

Slow Entity Creation

Lastly, the process of creating multiple legal entities can be cumbersome. The standard D365 F&SCM allows for the creation of single entities by importing data. But for large enterprises with hundreds of legal entities, this process can require a significant amount of consulting hours, leading to increased costs and time consumption. 

Which Version Is Best For Your Business?

Free 1-Hour Consultation

Closing Thoughts: Choosing the Right Solution for Your Business

Properly managing your multi-entity accounting comes down to the tools you use. All in all, you need a solution that unifies your financial operations, automates tedious tasks, and gives more hours back to your accounting team — all while nixing the risk for human error. With AMCS by Avantiico, all of these needs can be met without the need for rip and replace. 

Our accounting automation software is the key to unifying and streamlining your multi-company accounting processes. Starting with the free version can help you address basic needs and reduce manual efforts. As your organization grows or faces more complexity, upgrading to the premium version will provide more advanced features that scale with your expansion. 

Ready to automate and save? Reach out to us with the form below.

FAQs

What Is Multi-Entity Accounting & Why Is It Important?

Multi-entity accounting involves managing financial transactions, reporting, and consolidation across multiple legal entities within your organization. It is crucial because it ensures your financial records are accurate, helps you comply with local regulations, and maintains efficient financial management, especially if you operate in different locations or industries. 

How Does Dynamics 365 F&SCM Support Multi-Entity Organizations?

Dynamics 365 Finance and Supply Chain Management (D365 F&SCM) is highly beneficial for multi-entity organizations. It offers comprehensive features that simplify complex operations, improve connectivity among your legal entities, and enhance visibility. This ERP system assists in managing everything from financials to supply chain logistics, making your teams more effective and productive. 

What Are the Main Challenges of Multi-Entity Accounting?

The main challenges of multi-entity accounting include managing intercompany transactions, dealing with legacy systems, ensuring currency and tax compliance, balancing decentralized operations, consolidating financial statements, and meeting automation needs. Each of these challenges requires advanced solutions to maintain efficiency and accuracy. 

What Are the Differences Between the Lite & Premium Versions of AMCS by Avantiico?

The free version of AMCS by Avantiico offers essential features such as access to the Super Journal, importing, validating, and posting journals in multiple legal entities, and enhanced import validations. The premium version includes additional functionalities such as multiple legal entity creation with a single import, automated intercompany postings, composite data imports, dynamic mapping for imports, and global reporting features. 

How Can AMCS by Avantiico Benefit My Multi-Entity Organization?

AMCS by Avantiico can significantly benefit your multi-entity organization by automating large-scale accounting tasks, reducing manual effort and errors, and improving reporting accuracy. It integrates seamlessly with Dynamics 365 Finance, streamlines workflows with faster approvals, and supports ledger journal imports across multiple legal entities, making your accounting processes more scalable and efficient. 

Share Post

Explore more content

Recent Posts

Share Post

Request Microsoft Dynamics 365 demo

Start Conversation

Book a free meeting and let us have a look at your opportunities with Microsoft Solutions

Team working on presentation

Request a free Dynamics 365 demo

Discover how Avantiico helps you improve business processes, provide customers with a seamless experience and transform the way you do business.