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Nerdly Multicompany Automation

Status: Unverified

The Nerdly Multicompany Automation makes it simple and easy for companies to automatically transfer expenses throughout their company from one subsidiary to another. For companies who often pay expenses out of one subsidiary (or parent) on behalf of another subsidiary, automatically generate the appropriate intercompany journal entries to ensure that the expenses and due to/due from are eliminated at the end of each period.

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Description

Do you hate manually managing intercompany allocations?

So did we. That’s why we built a system to automate away the tedium of intercompany transactions. As we worked with customers around the globe, we found that many of them had a common problem. Companies with multiple subsidiaries would often have expenses that needed to be allocated to other subsidiaries, and to do so meant creating manual intercompany journal entries.

Key Benefits

Using the NMCA, when you need to allocate part of a vendor bill to another subsidiary, you simply select the destination subsidiary for the expense in the lines, and an intercompany journal entry is created for you and a link to the journal is available right on the bill. No manual intervention required.

Customer Quote

The NMCA saves us a ton of time and effort in managing our intercompany expenses. We love the Nerdly Multicompany Automation, and we’d be lost without it.

– Steve Holt

How is this different from what NetSuite provides?

The Nerdly Multicompany Automation [TM] (NMCA for short) makes it simple for you to allocate expenses to other subsidiaries in your NetSuite instance, without having to remember to create manual journal entries.

FEATURES

Allocate expenses to other subsidiaries directly from a vendor bill.

Instead of opening up several different transaction windows to allocate expenses, just do it from the vendor bill, check, or journal entry where you normally work.

Eliminate the need for manual reconciliation

Since the intercompany transactions are tied directly to the original transactions, when you make changes to the original transactions, those changes are reflected in the related intercompany journal entry, helping eliminate the need for manual reconciliation.

Automated validation ensures that you don't create invalid transactions

Because the NMCA includes validation for your different subsidiaries and classifications, you don't have to worry about someone creating a transaction that is invalid or doesn't agree with the way that you've set up your chart of accounts.

Simplicity is baked right in

Because we've been in the accounting and finance department ourselves, we know how important it is to keep things simple. There is very little configuration to perform, and the system works very closely with native NetSuite to ensure that you don't have to worry about having something break during an upgrade to your account.