If your organisation has multiple entities or subsidiaries, managing finances across them can be a pain. We know that dividing up costs manually, splitting invoices and re-entering information into the finance system is a headache you could do without.
The good news is that it doesn't have to be this way! bluQube makes managing sets of accounts across multiple business entities a breeze.
With a dedicated Intercompany Transactions module, bluQube takes care of all that time consuming manual work for you and makes it simple to report on the data you need.
Rather than manually splitting invoices, bluQube allows you to simply forward invoices to one, or multiple business entities at the click of a button.
With the ability to set pre-defined cost allocations, bluQube will split the invoice and charge each entity accordingly. Of course, if you wish to change how costs are allocated for an individual invoice, it's simple to do so on either a percentage or fixed value basis.
When your own entity receives an invoice allocation from another, it's immediately available via your bluQube Dashboard to review and authorise electronically.
Chances are, the nature of your individual operating entities is different. Resulting in different calendars, different chart of accounts and different VAT environments. To accommodate all these differences within a single environment would be impossible while having separate systems brings about extra costs and unecessary headaches.
bluQube's multi-entity accounting allows for all these nuances and many more, housed within a single finance system.
Implementing a system that could handle local requirements, but share data with global teams in Demark and China.
Intuitive reporting tools for budget holders and management teams, with all the powerful functionality your finance team need.
Whether you want to view information for your company as a whole, a specific group of entities, or just one single subsidiary, bluQube makes it fast and intuitive to tailor reports to the level you need.
bluQube's powerful reporting tools enable you to group and include data for different entities at the click of a button. And if you want to dive in a little deeper, you can swiftly toggle between entities via your main navigation bar, without ever needing to log out and in again.
Manually calculating cost allocations, re-keying information again and again... With the more entities your organisation has, the more of your time is eaten up processing just a single invoice.
Eliminating those manual steps, bluQube not only saves you time but reduces the risks of human error creeping in, ensuring your data always remains accurate.
We know that every organisation is unique in the way they are structured and different people will need different access to data across the organisation.
bluQube's access controls are highly customisable, making it easy to control who has access to each entity. Ensuring staff aren't bogged down navigating through items that don't apply to them and sensitive information is available to only those that need it, while management teams can always see a full picture of performance.
Without the cumbersome and monotonous manual steps involved, you'll be able to enter and allocate invoices around the business in minutes.
Combined with bluQube's intuitive authorisation flows, invoice allocations will be immediately available for the relevant budget holders to approve electronically the second they login to bluQube. Meaning payments can be made and goods received faster than ever before.
7 common challenges of multi-entity accounting and how to solve them...
It's easy to do. It's Friday afternoon and you're approaching the end of a long stack of invoices. Only to realise you're working within Company A rather than Company B. Not only will you need to start all over again, but rectifying your mistakes in Company A is not an easy task.
While we can't eliminate Friday brain, bluQube's intuitive interface helps minimise silly mistakes like this happening. Each entity is clearly labelled and allocated different colour screens, ensuring you can identify which entity you're working in at a glance.