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MYOB Acumatica – All you need to know
MYOB Acumatica for Multi-Entity Organisations

MYOB Acumatica for Multi-Entity Organisations

Streamline accounting and reporting across multiple entities with MYOB Acumatica

Multi-entity organisations face significant financial consolidation and reporting challenges. Relying on manual processes to collate data across companies, manage cash flow and vendor payments, and close periods across the organisation can hamper your efficiency and waste valuable resources.

To get ahead and stay ahead of your competition, you need a software solution that can support your entire organisation. Large, complex multi-entity organisations use MYOB Acumatica (formerly MYOB Advanced) to meet enterprise-level account consolidation and reporting needs.

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Why make the change to a connected business management platform

Small-business accounting software or ill-suited systems create efficiency bottlenecks and take your focus away from helping your core purpose. Common pain points that your multi-entity organisation may be facing are:

Poor visibility of your financial data across the entire organisation,
Lack of timely reporting to boards, management, or other stakeholders,
Basic reporting scenarios that limit your ability to capture the full picture of organisational health,
Data and compliance management split across multiple disconnected systems,
Limited accessibility to important data when away from the office,
Mistakes arising from an over-reliance on manual processes and data entry, or
A growing team that is becoming increasingly difficult to onboard and manage.

MYOB Acumatica is a modern, powerful, secure business management platform that can be configured to meet the needs of complex multi-entity organisations.

What is MYOB Acumatica?

MYOB Acumatica Business recognises the unique challenges faced by multi-entity organisations. It is a seamless and scalable platform for enhanced efficiency, resource management, and client satisfaction that can support an unlimited number of subsidiary companies within one tenant.

MYOB Acumatica is a cloud-based Business Management Platform localised by MYOB and powered by Acumatica – the world’s fastest-growing ERP system. It provides multi-entity organisations with a comprehensive set of tools for financial management, intercompany consolidations, expense management, revenue recognition, auditability and governance, customer service, and more. The software is designed to streamline business processes, automate tasks and other business events, and provide real-time insights into key performance indicators (KPIs). It is suitable for large, complex, multi-entity organisations and can be customised to suit your specific requirements.

MYOB Acumatica benefits for multi-entity organisations

Using an ERP empowers your team to embrace efficiency and connects your data siloes and subsidiary companies in one single source of organisational truth.

Comprehensive financial reporting

MYOB Acumatica has the robust financial management and reporting tools you need to create board reports and track revenue across multiple entities. For organisations with complex structures, MYOB Acumatica offers the capability to consolidate financial data across multiple entities or branches. This provides one unified view of financial performance across the entire organisation. MYOB Acumatica automates this process with robust intercompany and cross-company functionality. Related companies within your tenant can share charts of accounts, calendars, and currencies, as well as non-financial data. User and role-based controls allow you to easily restrict access to customer or vendor records by branch or company.

MYOB Acumatica’s flexible General Ledger and subaccounts structure means it can be completely customised to fit your unique organisation. It supports multiple currencies, including multiple base currencies across entities and complex organisational structures. The system collects data in real-time across all teams and entities, which means that every report, Generic Inquiry, Dashboard, and more is kept up to date with the most accurate, recent information. Create role-specific and login-specific dashboards so that the important information is immediately visible upon login. MYOB Acumatica also includes features to assist with compliance management, ensuring that financial reports meet the necessary regulatory requirements.

Easily navigate between companies and branches that represent separate legal entities, as well as companies with branches that exist within the same legal entity. Role-specific permissions can also be set, ensuring that data across your company network is only visible to the correct eyes. Manage financial periods separately for each company, including posting to closed periods. Activate and deactivate financial periods for posting for a particular company and close books separately in each company within the tenant.

Adaptable software for every type of organisation

The MYOB Acumatica platform is built out of a range of integrated modules to meet your organisation’s specific requirements. You only include the modules you need, and they are individually customised to suit your workflows and processes. Modular systems are scalable to meet your changing requirements and can be added in even after your implementation as your organisation continues to grow.

MYOB Acumatica also supports the integration of third-party add-on solutions to further improve efficiency. Industry-specific products can be integrated to address specific functional areas and create a system that matches your unique requirements.

Manage your operations from any device

MYOB Acumatica is built for the cloud. It is a cloud-native platform with all the flexibility, functionality, and user-friendly interfaces of a modern ERP system. The cloud brings mobility into your operations. MYOB Acumatica can be accessed at any time and from any device, either through a web browser or the purpose-built MYOB Acumatica OntheGo app.

With MYOB Acumatica, the ability to manage operations from any device becomes a strategic advantage, fostering a more agile and connected approach to business in this dynamic landscape.

Local business support

MYOB Acumatica is a reliable, stable, well-supported, and powerful ERP system. Kilimanjaro Consulting offers a long-term support partnership following your MYOB Acumatica implementation. Our expert team will be well-versed in your specific system, allowing fast and responsive support. Our MYOB Support services follow the sun from our offices across New Zealand and Australia – all the way to Perth. This helps you get support when you need it, not having to wait for off-peak support windows with overseas vendors. The value of localised expertise adds an additional layer of MYOB Acumatica’s reliability for the success of multi-entity organisations.

Automate your processes

Automation is a powerful tool for improving efficiency, freeing up your team from the burden of manual processes. MYOB Acumatica comes equipped with powerful automation to streamline your operations:

Intercompany and cross-company consolidations, thanks to the scope of the MYOB Acumatica platform. Financial reporting tools can automatically eliminate inter-company transactions on company-wide reports and provide one centralised view of accounts across all companies.
The Application Programming Interface (API) simplifies the efficient transfer of information between the system and external sources. The API is used as part of the integration with third-party products. This functionality reduces the manual effort required for data management tasks, enhancing accuracy and saving time.
Business Events in MYOB Acumatica trigger automation based on changing information in your system. These are simple ways to configure the system to fit your unique processes and workflows. Business Events can be used to send automatic email or mobile notifications and more.

In addition to general business processes, MYOB Acumatica excels in automating financial processes and workflows. This includes automated invoicing, expense tracking, and financial reporting, allowing finance teams to focus on analysis and strategic financial management – including across multiple entities within the same organisation.

Communicate and collaborate easily

Team-based collaboration improves dramatically when working in the cloud. You can work knowing the data you are using is up to date and consistent across different teams and workflows – no matter where you sign in. Real-time data flow means that everyone is working with the same data at the same time. Don’t waste time chasing other teams for out-of-date spreadsheets – everything comes from the system as your single source of truth.

With the integrated MYOB Acumatica Payroll module, you can bring HR, operations, and payroll into one place. MYOB Acumatica Payroll is an all-in-one management tool that calculates finances and labour costs, analyses trends, and creates detailed reports – all in real-time and integrated into MYOB Acumatica Business. It handles multiple pay groups and frequencies, leave requests and approvals, and automated onboarding.

MYOB Acumatica Payroll can manage pay runs and pay groups for the entire organisation (across multiple companies) at one time. It can generate separate .ABA files for each company and allocate payroll expenses to projects across the organisation. MYOB Acumatica Payroll is a powerful payroll solution for multi-entity organisations.

MYOB Acumatica Workforce Management

Bring onboarding, rostering, timesheets, and payroll together in one seamless, automated solution. MYOB Acumatica Workforce Management is an add-on module to MYOB Acumatica Payroll that improves the efficiency of even more of your administrative processes.

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MYOB Acumatica features for multi-entity organisations

There are many key features that make MYOB Acumatica the best ERP for multi-entity organisations:

Multi-entity data management with support for intercompany and cross-company functionality,
Create a truly connected organisation, with different departments, entities, and groups working with the same data in real time,
Cloud-based data encryptions securely access data from anywhere, at any time,
A configurable, flexible Chart of Accounts with a subaccount structure that can be customised to fit your requirements,
Manage and pay your entire organisation from a single integrated platform,
Accurate forecasting and planning capability,
Track multiple projects across multiple locations in real time,
Upload and track expenses with automated approval pathways,
Client information is organised and stored in one place, alongside billing and project information,
Identify inefficient processes to make the most out of revenue,
Automate bank reconciliations with Bank Feeds functionality to streamline the billing process,
In-built fixed asset management,
Deliver timely, accurate and highly segmented financial reports to board members, and management,
Cash flow improvements from the convenient monthly subscription cost,
Integrate a range of third-party add-on products to maintain a single source of truth for your data and enhance core functionality,
Multi-device accessibility: view your data from anywhere and at any time on any device,
Track compliance requirements across your organisation within a single system.

Importance of local software

There are many benefits to using a system that has been designed for your local region. All the idiosyncrasies of doing business in Australia and New Zealand will be familiar to you but not to overseas vendors. Their systems are not built to reflect the complexities that a local provider is more familiar with. MYOB Acumatica has been specifically customised to meet the needs of Australian and New Zealand organisations.

MYOB is a stable and reliable local vendor. Your investment supports a mainstay in the Au and NZ markets, as well as giving your organisation the local tools to surpass your competition.

Overcoming the roadblocks of ERP implementation

A successful MYOB Acumatica implementation relies on managing risk. Multi-entity organisations should be aware of the 3 types of risk:

Software risk
Implementer risk
Self-Inflicted risk

MYOB Acumatica is a reliable, stable, well-supported, powerful ERP system. It is well established as a good fit for multi-entity organisations due to its multi-tenancy setup, flexible General Ledger and configurable subaccount structure. It has shown a strong return on investment for other organisations. To manage implementer risk, engage the services of a trusted, experienced, low-risk implementation partner.

Self-inflicted risk is perhaps the hardest aspect of an implementation for multi-entity organisations to manage. Typically, the industry is held back by time constraints, tight budgets, and a lack of confidence and willingness to invest in operational solutions. Investigate the best ways to build an internal implementation team, including setting your project champion in our guide to building the best team for your implementation.

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The Kilimanjaro Consulting team can help you manage the three areas of risk, ensuring a successful implementation and a strong return on your investment.

Our Services – we help you so you can help others

Kilimanjaro Consulting has the largest and most experienced team of MYOB Acumatica implementation consultants across Australia and New Zealand. We are skilled, low-risk implementers helping businesses overcome their challenges through the use of clever, innovative and proven technology. Our dedicated team takes the time to truly understand your organisation and customise MYOB Acumatica to meet your requirements. We are experienced at implementing MYOB ERP for multi-entity organisations.

MYOB Acumatica Implementation

MYOB Acumatica is a complex, sophisticated business management platform. It requires in-depth solution design and configuration to meet your requirements and to add the most value to your organisation. While an MYOB Acumatica implementation may seem like a daunting project, you can engage an expert implementation partner to guide you through to a successful outcome.

MYOB Acumatica integrations and customisations

There is a vast array of specially developed connected services that you can integrate with MYOB Acumatica to create a technology ecosystem. These systems are specifically developed to meet individual industry or departmental requirements and can further improve efficiency. MYOB Acumatica integrations and customisations allow you to build a truly custom system for your organisation.

Business Process Improvement

Business Process Improvement (BPI) is a systematic approach to helping an organisation optimise its processes and improve efficiency. BPI is an integral part of any implementation. There must be an overall improvement in your processes; otherwise, your investment in new software is suboptimal.

Targeted areas for BPI typically include:

Automating manual processes
Validate data integrity
Improved reporting capabilities
System integrations if applicable, and
Process efficiency

MYOB Acumatica Training and Support

Kilimanjaro Consulting provides in-depth MYOB Acumatica training as part of our implementation process, as well as long-term guidance and support for our clients.

We understand it is crucial to empower your staff with the right skills and knowledge to use your systems effectively. Our MYOB Training avoids wasting time and resources that cause inefficiencies within even the simplest of processes. We have a dedicated training portal for on-demand MYOB Acumatica training options, as well as the skills to create bespoke training that is specific to your site and workflows.

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The MYOB Support Sherpas will help guide you to the best possible solution if and when you face challenges with your systems. With decades of experience between them, the MYOB Support team take a collaborative approach when solving your issue. All Multi-Entity MYOB Acumatica clients can log and track support tickets through the dedicated MYOB Acumatica Support Portal.

For any MYOB Support case, we follow a structured methodology to minimise risk and solve your problem efficiently. Our MYOB Acumatica Support team has developed a robust knowledge base grounded in their real experiences in finding solutions for our clients. Knowing more about your issue gives the team the ability to consider multiple resolutions. No matter if the query is small or large, our team will always endeavour to provide the best solution.

MYOB Acumatica Multi-Entity FAQs

MYOB Acumatica is a complex and fully featured business management platform. Naturally this leads to many frequently asked questions.

What is an ERP used for in multi-entity organisations?

Enterprise Resource Planning (ERP) systems are comprehensive software platforms that manage core business processes across various departments such as finance, human resources, procurement, supply chain, and manufacturing. They aim to provide a centralised solution for all aspects of an organisation’s operations. Multi-entity organisations benefit from having all data collected by their organisation stored and available for analysis in one place. Intercompany consolidations take a significant amount of time if done manually. MYOB Acumatica creates a single source of truth for every transaction and non-financial piece of data across your multi-company structure. Its powerful functionality can automate intercompany consolidation, saving hours of manual work a month.

The right ERP system can also manage complex multi-entity requirements around time and expense tracking, payroll and resource allocations, project management, customer relationship management, time tracking, and billing – depending on your unique requirements.

Why set up a cloud ERP for my multi-entity business?

Moving from an “off-the-shelf” accounting system to a cloud-based, configurableEnterprise Resource Planning (ERP) system brings in significant efficiency benefits for your entire team. Avoid the biggest waste of administration resources by eliminating data duplication across disconnected systems with a connected business management platform in the cloud. Capturing project, financial, payroll, and inventory data in one place improves visibility and report timeliness. When properly configured and implemented, a powerful cloud-based ERP system can improve efficiency and set your organisation up for future success. Being able to access any transaction or other piece of data across your organisation at any time saves significant time and improves overall efficiency.

How do I find the best ERP system for multi-entity organisations?

Book a free, no-obligation consultation with one of our friendly and experienced MYOB Acumatica consultants. Discover how our team can support your organisation in your journey up the technology mountain.

Trust the knowledge and experience of an expert. Our team will work to understand your organisation and processes before providing open and honest advice about how MYOB Acumatica can improve efficiency for your complex multi-entity organisation.

How long does an MYOB Acumatica implementation take?

The length on an MYOB Acumatica implementation varies depending on your individual requirements. You should anticipate a minimum of 3 months for the entire implementation project, from design through to go-live.

Your relationship with an implementation partner should be a lifetime one. Choose the implementation partner not only with the skills to customise MYOB Acumatica to meet your requirements but who will be there to support you through your lifetime journey with the system.

Do you offer MYOB Acumatica training for multi-entities?

MYOB Acumatica Training is essential to get the most out of your system. Our goal is to help you become self-sufficient in your system when you go live. However, for new starters or those who need a refresher in their system, we also offer supplementary online training. In the case of MYOB Acumatica, because every system is so different and unique, we curate ad hoc training to suit your specific build requirements.

What kind of MYOB Acumatica support do you offer?

The support team at Kilimanjaro Consulting are MYOB Acumatica experts. They follow a structured methodology to minimise risk and ensure your system works perfectly when the ticket is closed. Our team will always submit a written quote before undertaking any work, to ensure our support costs are clear and transparent.

Continuous support and Business Process Improvement help you get the most out of your investment in MYOB Acumatica. Support rates are typically bundled into packages; however, you could also opt to pay for support by the time spent to resolve your problem – usually at a more expensive rate.

What are the costs involved when implementing MYOB Acumatica for multiple entities?

Just like the implementation timelines for MYOB Acumatica, the implementation costs also vary from organisation to organisation.

Every MYOB Acumatica site is different, and the price reflects this. Because you only pay for the modules you use, and every organisation will use the system differently and with a different number of users, there will be variance between companies for the final cost.

A typical MYOB Acumatica implementation will cost between $50k and $100k, depending on the individual requirements. More complex organisations could fit outside this range. Ongoing licence fees typically range between $2k to $5k per month.

Your organisation may be more or less complex than the exemplar. The best way to find out how much it will cost is to talk to an expert. Our team will attempt to understand the uniqueness of your organisation, how MYOB Acumatica can best meet your needs, and provide a quote for implementation, ongoing licences and support.

How will Kilimanjaro Consulting help my organisation to adopt MYOB Acumatica?

You may not have gone through an implementation before, but we have. Kilimanjaro Consulting places a supreme focus on the minimisation and mitigation of risk in your implementation. We follow a systematic framework to guide clients and the implementer step-by-step through the process. Without a structured implementation methodology, the speed and sequence of steps will be confused, resulting in frustration and dissatisfaction. A structured methodology incorporates the lessons learned from experience, ensuring that the same mistakes will not be made again.

Get in touch today

The Kilimanjaro Consulting team are experts in configuring MYOB Acumatica to meet the needs of multi-entity organisations. Our team includes CA, CPA, and ACA accountants. We understand your needs and have the skills to configure the system to meet your requirements. MYOB Acumatica is a suitable and proven business management platform for complex multi-entity groups. It provides a strong return on investment while also improving efficiency in consolidations and visibility of your most important data. Contact us to organise a free, no-obligation assessment of your organisation and whether MYOB Acumatica is right for you.

Schedule a consultation

To start a conversation about how MYOB Acumatica can improve efficiency for your multi-entity organisation, email sales@kilimanjaro-consulting.com, or call 1300 857 464 (AU) or 0800 436 774 (NZ).