We all talk about the Digital Era and all its pro and cons. But there is definitely one thing that Digitization has made it easy for a number of businesses – A Quick Expansion. Irrespective of where your current business is located you can smoothly expand it across the globe and have multi-branches managing it all from your Head Office.
But as easier is the expansion the more difficult it gets to manage when it comes to accounting. Having multiple branches means having multiple sets of accounting ledgers, where consolidating them becomes a challenge. And most importantly getting consolidated reports of the business giving branch-wise details.
We at RealBooks acknowledged this issue faced by most businesses where multi-branch accounting becomes a hindrance to their growth. We with our team of experts have developed a solution where by creating Ledgers at Company Level not only branch accounting becomes much more manageable and gave more control to the Head Office.
To give you a clear insight on How RealBooks works for Multi-Branch Accounting, we would like to share one such instance where the client was facing the similar issue in managing all the branch accounting and how with RealBooks they are now able to seamlessly integrate all their accounts.
One of our customers is a Logistics company having their Head Office in Mumbai with 6 branches across India. Since the client is in the Logistics Industry, the volume of data entries is huge and majorly repetitive. Having branches in 6 cities, they were looking for an accounting solution that not only consolidated their accounting data but also simplifies their repetitive work.
RealBooks being a Cloud-Accounting Software gives a real-time access of data to all its users. So sharing of data is never a challenge with it. But when we talk about Branch Accounting, controls on what is shared with whom needs special attention.
To eradicate the problem of Multiple-Ledgers, what RealBooks helped the client with was the creation of a Ledger Centrally. So now, instead of having multi-ledgers accounts of similar types in various branches they had uniform ledger accounts for the business. Also, with the creation of the Ledgers Centrally, the Head Office had an option to define the permissions of each branch office separately. This means even though the sets of ledgers were the same for the entire business, they could control the access given to the branch offices.
Also, since the client was catering in the Logistics, they had a huge volume of transactions happening every day most of which were repetitive and inter-branch. With the RealBooks accounting software, they could now automate their inter-branch entries saving a huge amount of time and efforts.
The result of all – The company now has a single set of ledgers with defined permissions for each Branch office. There is no need to make inter-branch entries as it can be easily automated by the software. Since there is only one set of ledgers – consolidated reports of all the branches can be accessed at any point in time. Not only this, the company can now plan its expansions without worrying about its branch accounting management and can add “n” number of branches to the same Centralized Ledger.
We at RealBooks specializes in catering to these issues for various clients on a regular basis. And Accounting being the core of any business we understand the importance of it and its management. If you have faced something similar with your business and are looking for a customized solution we are there to help you. For more details about RealBooks log on to http://www.realbooks.in