BTerrell Group Blog

How to Set up Global Consolidation in Intacct

Posted by Binbin Zhai on Fri, Oct 24, 2014

Global Consolidation is one of the awesome features of Intacct. As it automatically pulls the daily exchange currency rate into each transaction, you can run any report at any time in US dollars or other currency. No more running complicated manual calculation or spreadsheet so giant that it makes your computer run slow. Even better, it is very easy to set up.

In Global Consolidation, a book is created for consolidation reporting. Locations that you will be consolidating and reporting are selected in one book. A specific Currency can be set in the book.

To get started, open the Global Consolidation module in Intacct, and create a new book from the Book Setup tab.


Enter the name of the book and select the reporting currency you need. Then, the statistical Journal Symbol and Statistical Journal Title will pop out automatically.

Select budget -- if you have any -- and select the default department you need, which means gain/loss from consolidation are tagged to that departments.

Intacct suggests leaving the Translation Methods as default.

If you do not have a Balance Sheet account for Cumulative Transaction Adjustment yet, go back to the GL module and create one.

Select the Cumulative Transaction Adjustment account on both Currency exchange Gain/Loss Account on Net Assets and Net Income.


Select the entities that you plan to consolidated and add them into the right column.

It creates a special Elimination entity in GL module for your book and select from Global Consolidation.

If you would like to have the Inter-entity elimination entries posted automatically, which is cool and convenient, you can check the box of Inter-Entity auto elimination. If you didn’t select all entities with Inter-entity transactions in your book, it is not suggested to check the auto elimination, because all un-balanced due to/due from account balances will be auto eliminated to the Cumulative Transaction -Adjustment account.

If any account falls into the rules that we set up in book information, with Accounts to Override tab, you can change the setting for each individual account.

The basic setup is almost done. Before you save it, please double check that everything is correct.

After you save the book, you can go to the Corporate View tab to see a chart for consolidation structure. If you need to change anything for your book, this is the last time to change it.

At this point, you can start to consolidate the book you created. For a first time consolidation, you will have to consolidate each period from the earliest one to up to date. Later, you can set up a consolidation recurrence to let Intacct do it for you.

After the book is consolidated currently, you finally can run a report.

Select the book as the reporting method. If you leave the location as blank, the report will include the data from all entities selected in the book. If you select a specific location, the report will only show the data from the location in book currency. 


And now you are ready to use Global Consolidation in Intacct!

Tags: Intacct, global currency

Easily Set Up User Based Permissions in Intacct

Posted by Kevin Yu on Thu, Oct 09, 2014

Setting up user permissions for the first time can be very time consuming. There are so many different activities/lists and reports that can be assigned permissions.

On the permission assignment window, the header section has an area that allows you to assign None, Read Only, or All for all the permission options in that section. Read Only will check all the List and View options while None and All should be self-explanatory. Please note that there is a Reports section in the permission selection window for some modules.

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Another way to expedite this process is by utilizing a permissions template. By choosing one of these templates, it automatically selects a corresponding set of user permissions for all the modules. This gives you a great starting point. Permissions can then be tweaked afterwards as needed.

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Tags: Intacct, Intacct setup, Intacct permissions

Creating Roles for a Multi-Step Approval Process using Intacct and DocAssist

Posted by Chris Karnes on Tue, Sep 23, 2014

We get many requests on how to have a process work across two or more applications. This is how we setup everything for a multi-step workflow approval process across Intacct and DocAssist.

Before you get started, you must have the following:

  1. Document Types created, workflows are specific to a document type.
  2. Folder Structure set up, workflows are tied to one or more drawers.
  3. Intacct web API set up in DocAssist by DocAssist’s technicians.
  4. Be an administrator in your instance of DocAssist.


Creating Roles

First we created roles for the data entry group and approving manager group (the people responsible for each task). Go to the admin section, and click on “organizations” then click “roles.” Select the organization and department in the appropriate drop down box, then click “add new role.”


Enter the name “AP Bill Attribute Entry” and select the users you want fulfilling the role and click save. This role is used for entering the bills attributes into DocAssist.


Repeat this process using “AP Bill Approving Managers.” This role is used to review and approve/disapprove the attributes entered before pushing to Intacct.


Next, we allow the newly created roles access to the drawers where the documents will reside. In the Admin Section click on “document management,” then on “drawers,” and then click “edit” in the cabinet drawer name.


Click the check boxes next to the newly created roles and give them “write” access to the drawer, then click “save.”


Now we must give the role options in the document type. In the admin section click on “document management,” then on “document types” and click on the “edit” link in the document type.


Click the “next” button twice to get to the “setup step 3 of 3” page, select the “AP Bill Approving Managers” radio button and click “edit.”


Select the top check box enabling all options and click save.  Repeat this step for the “AP Bill Attribute Entry” role we created.


In a future  blog post, I'll discuss how to set up the workflow. 

Tags: docAssist, Intacct

When to Implement a New ERP System – Reason #5 Reporting is Limited

Posted by Keith Karnes on Tue, Sep 09, 2014

I recently started a blog series discussing some of the main reasons companies need to implement a new ERP system. (Read reasons #1, #2, #3, and #4 here.)  Today, I'll discuss Reason #5.

Reason #5: Reporting is Limited

Even though the role of a CFO may have evolved over the years, financial reporting remains crucial for any CFO’s success. If you don’t have access to pertinent financial information at your fingertips, how do you expect to make sound decisions in a timely manner?

Is your staff forced to export information from your accounting system to Excel to consolidate, sort, and format? Is the time spent on report creation taking your staff away from other income-producing activities? Are human errors causing you to make ineffective decisions? Unfortunately, cumbersome reporting is very common for many SMBs, but it doesn’t have to be.

Limited Reporting

At BTerrell Group, we strive to help companies eliminate internal business challenges by providing insightful, leading solutions that produce visibility to yield a strategic return. We can say with certainty that the improvements we see again and again as a result of improving business reporting by implementing a cloud solution, such as Intacct, include:

  • reduced costs
  • increased productivity/realized additional time to devote to other tasks
  • enhanced decision-making
  • improved data accuracy

(One of our clients reports saving several days a month in calculation and reporting on their commissions structures alone!)

As CFOs, it is our responsibility to ensure we make logical, strategic decisions based on accurate and timely financial information. If we can do that while keeping money in the pocket of business owners, isn’t that our goal? What would these improvements mean to your business?

Tags: ERP, Intacct, why implement new ERP system, reporting is limited, limited reporting

Gain productivity with the Right Accounting System

Posted by Kevin Yu on Tue, Sep 02, 2014

As your company grows, you can no longer rely on complicated, error-prone spreadsheets for reporting, or use extensive manual processes for accounting tasks. You may be ready to move to a new accounting system. The right accounting system can translate to significant productivity gains through automation of manual tasks, improved decision making with real-time reporting and visibility and a strong foundation to support your business growth.  Make sure you chose the right accounting system for your business.productive Intacct worker  

Download the Intacct whitepaper, Eight rules for investing in a new accounting system”, written by one of CPA Technology Advisor’s Top 25 Thought Leaders in Public Accounting, Geni Whitehouse and learn how you can operate more efficiently and effectively, improve your audit and control capabilities, easily comply with GAAP and IFRS accounting standards, and manage multiple entities and foreign currency.

I hope this whitepaper proves informative and provides some helpful insights. 

Tags: accounting system, Intacct