Jaclyn Anku, ProAdvisor Training & Certification Leader: On today's episode of In the Know, we'll showcase exciting updates to multi-entity functionality in Intuit Enterprise Suite.
Hey, ProAdvisors, it's Jaclyn, and you're watching In the Know, where you get exclusive access to demos of Intuit product enhancements by the leaders who built them.
Let's jump right in with Lakith, who will demo the updates to Intuit Enterprise Suite.
Lakith, welcome!
Lakith Lanka: Hey, Jaclyn! Thanks for having me on the show. I'm Lakith, a product manager on Intuit Enterprise Suite. I want to highlight the changes that we made.
As of today, many of the features of multi-entity are restricted to admins only on the parent company. We are improving this experience with our November launch, where we are launching a consolidated view that is customized for each user's access.
Second, we're also launching granular permissions to have a better management control of multi-entity on Intuit Enterprise Suite.
Fast Facts:
- Who is this for? This is for all the clients of multi-entity on Intuit Enterprise Suite.
- How can you get it? We are rolling out on a phase-by-phase basis. You should be receiving an email soon.
- By the end of January, we'll be rolling out all your clients onto the new experience.
- Right now, it is for the US only.
So I'll be demoing three things. the consolidated view, the new RBAC. and the new allocation that we launched on Intuit Enterprise Suite for multi-entity.
As soon as you log into the Intuit Enterprise Suite, you will see this view. If you have multiple clients, you will see these grouped like how you're seeing here. If not, all the other companies will be listed at the bottom.
So in this case, I am logging into West Coast Lumber and a consolidated view. As soon as you log into the consolidated view, this is a bird's eye view of all the companies within this Intuit Enterprise Suite contract.
This P&L widget that you're seeing is a consolidated P&L, along with the eliminations considered. Any user with the relevant access will be able to get into the consolidated view with the right permissions.
I will be showing some of the examples of what is available on the consolidated view.
In this case, we have a shared Chart of Accounts, where you can manage your Chart of Accounts across all the companies in one place in a central way.
We also have dimensions. We can manage all the dimensions across all the companies from one single central location, and also share to which company that will be going to.
You can also manage all your setup activities, like intercompany account mapping, intercompany elimination accounts, manual eliminations and org chart from one place.
Additionally, all your consolidated reports will also be available here. You can see some new reports, such as consolidated Sales by Customer and also consolidated Sales by Customer detail. You can also see KPIs and dashboards that we launched with the consolidated view.
Now I'll be diving into user management. You need to switch to one of the companies, go to the settings, and pick manage users. The screen might be familiar for all of you.
I'm trying to add a user, and you can see a new Manage consolidated view permissions. This button is only available for the parent primary admin of this Intuit Enterprise Suite contract. This user is the primary person who signed the contract. This person will be able to manage the permissions and provide access to any user within this organization.
For example, a user getting the shared Chart of Accounts permission will be able to manage the chart of accounts across all the companies from one single place. Similarly, a user with the intercompany account mapping can manage the mappings across all the companies. And so the eliminations and manual eliminations.
As of today, all the existing users will be automatically onboarded into the consolidated view. Having said that for all the new users, we will need to check this box to turn on the consolidated view for a brief period of time. Over the next few months, all the users will automatically be on the consolidated view.
Now that we talked about the user permissions, I'll be shifting back to the consolidated view. As we discussed, the consolidated view is a tailored experience for every single user based on their vitality access. A user with a journal entry access on two companies can perform a journal entry from here. Similarly, a user with dynamic allocation access on relevant companies will be able to perform a dynamic allocation.
Now I'll demo how dynamic allocations works. Dynamic allocation is a new intercompany transaction we launched in November. If you are a user who wants to allocate at an account summary level, as opposed to hundreds of transactions a month, this allocation is for you.
In this example, West Coast California is the primary company which signed a contract with the government agency. So all the invoices are received from California's company. Having said that, the sales actually belong to other companies within the organization.
So in this example, I'm picking California, picking sales, and the income which I want to allocate. I want to find the government agency. In this case, I'm allocating for the last month. As you can see, the information is automatically populated. I'm going to pick my customer, which is the government agency. Additionally, I want to break this allocation down further, only for an urban dimension. So you can see that this information is dynamically being updated and applying this amount and allocating to all the companies.
In this example, I'm picking an even percentage. As soon as I apply, all the information is populated automatically. Similarly, as soon as I pick a dimension, all the shared dimensions are automatically populated. Once I review, I save this allocation, and with one click, all the complex accounting happens in the background into all the other companies. If I want to review, I can hit the view transaction journal and review the complex accounting.
Additionally, on the consolidated view, you can view all the intercompany transactions under the accounting in one place.
Over here, you can see dynamic allocation which we just created, some of the journal entries, and all the other transactions. And you can take necessary actions like eliminations and viewing the transaction from one single place.
If you are a firm user, though, the parent primary admin of this Intuit Enterprise Suite contract will be inviting the primary admin of the firm. Now, the primary admin of the firm will have the full flexibility to invite all the other accountants within that firm.
Over time, we'll be improving this experience for regular users and firms.
These are all the updates that we launched for November. We are excited to share this with you so that all the multi-entity features are now unlocked to more users within your organization, as opposed to the primary admins only.
And Jaclyn, thanks for having me on the show.
Jaclyn Anku: Hey. Thanks so much for that walkthrough.
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