Articles

The arrival of the financial year-end can often feel like a nightmare for many accounting teams. As December 31st looms, the tasks pile up, and the process of closing the books becomes a source of dread. But what if things could be different? What if this period could transform from something resembling “The Nightmare Before Christmas” into a smooth transition into the new year? It can — read on to find out how.

Though the terms 'intercompany' and 'intracompany’ are similar, their implications in the accounting world are distinct and significant. The latest in our "what is…" series delves into these terms, their etymology, and practical implications — especially when setting up and managing Enterprise Resource Planning (ERP) systems.

Our recent acquisition by Valsoft Corporation promises exciting developments for our customers. 

We’ve just returned from Oracle’s CloudWorld event (formerly OpenWorld) in Las Vegas, a great opportunity for networking and exploring new industry developments. So now, it’s time to get back to the daily routine and the dreary British weather.  

In an age when social responsibility rests with all of us, ESG is becoming an important asset to companies in every industry. In light of this, we explorehow the ESG revolution has affected the finance-and-accounting function within organizations and the challenges that must be overcome. 

Intercompany accounting is typically downplayed, oversimplified, and sometimes even swept under the rug so you can “deal with it on another day”. While this may have been acceptable back in the day, the consequences are becoming harsher, and companies need to realize that it’s finally time to tidy up the situation.

In the 21st century, businesses must stay ahead of the competition to remain successful. An Enterprise Resource Planning (ERP) system delivers software solutions for keeping a company running efficiently while serving up data-rich insights that support smart decision making.

Google "finance transformation" and you’ll find a plethora of information about how operating models and processes are being rethought and brought up to date. You’ll be presented with a ton of results that explore how the latest technologies can be employed to eliminate waste and get fast, accurate results. But there is one area that has lagged behind and hasn’t always been subject to the same approach — the intercompany function.

Intercompany accounting is a by-product of corporate expansion. It’s what happens when a company grows until it includes multiple legal entities, any number of which may be subsidiaries located in different countries.