MYOB Advanced for Multi-Entity Organisations

Streamline accounting and reporting across multiple entities with MYOB Advanced (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 Advanced to meet enterprise-level account consolidation and reporting needs.

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 Advanced is a modern, powerful, secure business management platform that can be configured to meet the needs of complex professional services organisations.

What is MYOB Advanced?

MYOB Advanced 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 Advanced 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 Advanced 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 Advanced 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 Advanced 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 Advanced 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 Advanced’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 Advanced 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 Advanced 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 Advanced 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 Advanced (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 Advanced can be accessed at any time and from any device, either through a web browser or the purpose-built MYOB Advanced OntheGo app.

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

Local business support

MYOB Advanced is a reliable, stable, well-supported, and powerful ERP system. Kilimanjaro Consulting offers a long-term support partnership following your MYOB Advanced 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 Advanced’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 Advanced comes equipped with powerful automation to streamline your operations:

  • Intercompany and cross-company consolidations, thanks to the scope of the MYOB Advanced 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 Advanced 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 Advanced 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 Advanced Payroll module, you can bring HR, operations, and payroll into one place. MYOB Advanced 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 Advanced Business. It handles multiple pay groups and frequencies, leave requests and approvals, and automated onboarding.

MYOB Advanced 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 Advanced Payroll is a powerful payroll solution for multi-entity organisations.

MYOB Advanced Workforce Management

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

MYOB Advanced features for multi-entity organisations

There are many key features that make MYOB Advanced the best ERP for professional services:

  • 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 Advanced 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 Advanced implementation relies on managing risk. Multi-entity organisations should be aware of the 3 types of risk:

  1. Software risk
  2. Implementer risk
  3. Self-Inflicted risk

MYOB Advanced 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 Advanced 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 Advanced to meet your requirements. We are experienced at implementing MYOB ERP for multi-entity organisations.

MYOB Advanced Implementation

MYOB Advanced 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 Advanced implementation may seem like a daunting project, you can engage an expert implementation partner to guide you through to a successful outcome.

MYOB Advanced integrations and customisations

There is a vast array of specially developed connected services that you can integrate with MYOB Advanced to create a technology ecosystem. These systems are specifically developed to meet individual industry or departmental requirements and can further improve efficiency. MYOB Advanced 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 Advanced Training and Support

Kilimanjaro Consulting provides in-depth MYOB Advanced 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 Advanced training options, as well as the skills to create bespoke training that is specific to your site and workflows.

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 Advanced clients can log and track support tickets through the dedicated MYOB Advanced Support Portal.

For any MYOB Support case, we follow a structured methodology to minimise risk and solve your problem efficiently. Our MYOB Advanced 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 Advanced Multi-Entity FAQs

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

Get in touch today

The Kilimanjaro Consulting team are experts in configuring MYOB Advanced 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 Advanced 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 Advanced is right for you.

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

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