Streamlined Multi-Entity Accounting: A Guide to Avantiico’s AMCS for D365 Finance

Modernize your Dynamics 365 multi-entity accounting processes with Multi-Company automation for Microsoft Dynamics 365 Finance & Supply Chain Management.

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Aaron Klein

Introduction

Efficient multi-entity accounting for companies with many legal entities is crucial in today’s rapidly evolving business environment. The Advanced Multi-Company Solution (AMCS) for Microsoft Dynamics 365 Finance is the answer: a streamlined multi-entity accounting software for Dynamics 365. This blog post delves into the fundamental accounting automation features of Multi-Company accounting, a pivotal asset for multi-entity businesses and growing companies on a merger and acquisition path. The AMCS solution is designed to deliver outstanding results by saving your accountants time and reducing manual accounting errors. It has unique features tailored to meet the finance automation and multi-entity accounting needs of organizations regardless of industry.

With AMCS your team gets a comprehensive D365 Finance & Supply Chain Management multi-entity accounting add-on that empowers your entire business with robust automation, data analytics, and data integration management optimization capabilities. These data features for Microsoft Dynamics are critical to streamlining your multi-company financials so you can stay ahead of your competitors in today’s fast-paced business environment.

Benefits of Dynamics 365 Finance Multi-Company Accounting Solution (AMCS)

Elevate your Microsoft Dynamics financial management with Avantiico’s Advanced Multi-Company Solution for D365 Finance. AMCS offers a range of benefits and features to streamline your financial operations:

Multi-Entity Accounting Avantiico's Multi- Company Solution for D365 Features Overview

Read on to discover how these powerful features can transform the financial management of your multi-company organization in Microsoft D365 Finance.

Dynamics 365 Data Migration: Data Migration Accelerator (DMA)

Data Migration from any accounting, warehouse management or integrated ERP solution to Microsoft Dynamics 365 Finance and Supply Chain Management Solution is a significant undertaking, with traditional methods being labor-intensive. Avantiico’s Data Migration Accelerator (DMA) disrupts these challenges, freeing up your accounting and IT teams from the laborious task of data import and allowing them to focus on other critical areas. Envision the convenience of using just one Microsoft Excel file that encompasses data for all your legal entities and importing it seamlessly—right up to the final posting in Dynamics 365. The old way of copying data for each legal entity, saving it into new Excel files, and clicking through multiple posting procedures by each legal entity is no longer necessary.

Consider the workload for an organization with 50 legal entities, each requiring five significant data imports: traditionally, this would mean 250 distinct imports. DMA reduces this task to just five comprehensive imports, cutting down on both time and effort substantially. By incorporating DMA and streamlining your data migration process, your accounting team is empowered to engage in strategic analysis and other value-adding activities, thereby enhancing the operational efficiency of your financial system.

Not only does DMA slash the number of imports, time, and effort required by your finance team in migrating data, but with DMA, users also receive clear and easy-to-understand error messages, making any auto-detected errors in Excel file uploads easily identifiable. This saves time that would otherwise be wasted on identifying errors, allowing for more efficient financial reporting.

With the Data Migration Accelerator included in the Multi-Company Accounting Software, we’ve saved one of our clients over 320 hours of data migration work while implementing D365 Finance. This resulted in a substantial ROI and significantly sped up their timeline to go live. Optimize your data import process with Data Migration Accelerato and streamline the process to save valuable time and resources for your team. By utilizing this Microsoft Dynamics data migration software, you can import data to D365 with ease and ensure a smooth and hassle-free import process.

Avantiico's Data Migration Accelerator

Learn more about the benefits of DMA for D365 Finance implementations

D365 Multi-Entity Accounting: AMCS Super Journal Imports

Efficient journal imports are the backbone of accounting software, and the AMCS Multi-Company Solution is engineered to enhance this critical aspect within D365 Finance. The solution significantly reduces the number of keystrokes and operational steps required to process journals across multiple companies. Rather than the cumbersome standard approach that necessitates importing journals for each legal entity individually, Avantiico’s AMCS enables the automation of this process. This allows journal imports to be allocated across 5, 25, or even hundreds of companies in a single action. The outcome is a notable decrease in workload and associated costs for accounting teams. Moreover, it dramatically reduces the risk of potential errors and data corruption that can occur due to human intervention, thereby boosting the overall accuracy and reliability of the accounting process.

In addition, the Advanced Multi-Company Solution (AMCS) streamlines data integration from third-party applications such as payroll data, expenses, EDI, and banking data. With AMCS’s ability to seamlessly incorporate data from your accounting team’s third-party tools, the need for manual data mapping is eliminated. This again reduces the manual workload and helps to prevent data inconsistencies.

The accounting automation capabilities within Avantiico’s AMCS are extensive, covering a broad range of journal types, including General ledger journals (D365 GL journals), Accounts payable journals (D365 AP journals), Accounts receivable journals (D365 AR journals), Fixed asset journals (FA journals), and Inventory journals. This ensures your enterprise can manage financial records with unparalleled efficiency and integrity.

Avantiico's Advanced Multi-Company Solution

Learn more about the benefits of Avantiico's Advanced Multi-Company Solution for D365 Finance

Multi-Entity Accounting: Reporting and Inquiring

Real-time financial data analytics reporting and inquiring are non-negotiable in the modern data-driven world. Avantiico’s Advanced Multi-Company Solution for D365 Finance and SCM centralizes and simplifies these data analytics tasks, providing comprehensive insights across multiple legal entities.

If your business oversees the financial management of multiple companies, you’re familiar with the standard approach that requires running individual financial reports and inquiries for each relevant company. However, with Avantiico’s AMCS, these reports and inquiries can be consolidated into a single operation, significantly reducing the time and effort required. This applies to all types of reports and inquiries, including 1099 tax reports, and effectively speeds up the month-end close process.

Avantiico’s Multi-Entity Accounting solution enables the easy definition of operational hierarchies between bookkeepers, accountants, and the companies they manage. These granular access controls ensure that only authorized users can access sensitive financial data. In addition, company type and reporting segregation can be determined with ease.

Multi-Entity Accounting: Mass Legal Entity Creation

Creating multiple legal entities is a common challenge for organizations experiencing growth, mergers, or acquisitions. Avantiico’s Advanced Multi-Company Solution automates and expedites this process through an Excel import, saving your finance team significant hours of manual work and cost savings per year.

In standard Dynamics 365 Finance, legal entity records and ledger setup must be created manually for each legal entity. The Avantiico Multi-Entity Accounting solution creates these automatically during the Excel upload. Thus, AMCS saves time and reduces the possibility of errors by standardizing the process.

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Learn more about the benefits of Avantiico's Advanced Multi-Company Solution for D365 Finance by booking a product demo

Multi-Entity Accounting: Centralized Budget Planning

The AMCS Multi-Company Solution Microsoft Dynamics 365 Finance by Avantiico, Microsoft Solution Partner, enables you to streamline your budget planning at an enterprise level. This innovative approach allows for effectively allocating a global budget plan across multiple legal entities. The solution empowers users to centrally manage budget plans, ensuring streamlined allocation and enhanced financial stability. By enabling centralized budget planning, Avantiico’s AMCS ensures that financial resources are utilized optimally, supporting the achievement of overarching financial objectives and driving organizational growth.

Conclusion

In conclusion, Avantiico’s AMCS Multi-Company Solution for Dynamics 365 Finance offers comprehensive features and functions that revolutionize finance automation and accounting management. From rapid data migration to super journal imports, streamlined reporting, mass legal entity creation, and improved budget planning, this solution empowers businesses to take control of their financial operations.

Don’t miss the opportunity to transform your accounting team’s performance. Explore Avantiico’s AMCS Multi-Company Solution and discover how it can elevate your organization’s financial capabilities. Contact us today to learn more and start your journey toward efficient and effective financial management.

Complimentary Consultation

Learn more about the benefits of Avantiico's Advanced Multi-Company Solution for D365 Finance by booking a product demo

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