Many companies today have multiple entities, listed under one company in their account application. Often, these are foreign-based companies. While the entities share the same Chart of Accounts, they want the ability to show different account titles/descriptions by entity.
For example, US Company 1 needs the 4000 revenue account description as “Revenue”, but for the same account, Mexican-based Company 2 needs the account description to be “Ingresos”, while a French-based company needs the account description to be “Recettes”.
Sound familiar? To meet this requirement, use the Account Titles feature in the GL Accounts window.
Set up the account descriptions in the Account Titles by Entity window:
By utilizing the account titles feature, this will allow you to change each entity GL account as you need.
Isn’t it wonderful when an accounting system, such as Intacct, is flexible enough to fit your specific needs?
Related Intacct Tutorials
- 2014 Year-End Updates and Tutorial: How to Print 1099
- Intacct Shared Document Storage Tutorial
- How to Create and Use Custom Dimensions in Intacct
- Customizing Standard Reports in Intacct by Creating Your Own Account Groups
- How to Fix an Intacct Financial Report that has an Incorrect Balance
- How to Create Custom List View in Intacct
Learn More: Intacct 2015 Year-End Closing and Updates Webcast
Intacct Users: Join Intacct Expert and Senior Consultant at Brittenford Ann Scanlan on December 15, 2015 from 1:00 to 2:00 PM ET to learn more about making the end of year tasks easier, and see what’s on the horizon for the cloud accounting platform.
- Event Name: Intacct Year-End Closing and Updates
- Date: December 15, 2015
- Time: 1:00 to 2:00 PM ET