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Multi-Company Accounting


Term Definition
Multi-company accounting is software that manages the project accounting functions of multiple operations, locations and companies in a single database. This is a robust software solution that facilitates the ability to collect, utilize and report data generated from multiple operations. The software enables timely reporting, billing and reduced expenses.

Multi-company accounting systems allow multiple organizations or locations to share centralized data, which facilitates billing and reporting. If customers are supported by multiple locations, a multi-company accounting system facilitates the integration of the data in order to generate timely bills to customers. Accumulated time can be migrated into a single financial solution and charged to individual programs via an integrated payroll service.

Multi-company accounting systems can also provide an easy way to switch from one database to another. This will allow an employee the ability to access inventory, customer data, documents, locations, etc, on one company and with a few keystrokes access the same data from another company. Companies can keep their database and financials in separate entities while reaping the benefit of ease of access.

Multi-company accounting systems also facilitate software upgrades. Rather than upgrading multiple pieces of software, you have one copy with which to contend.

Area of Application
Project Management
Revenue Recognition

 

 

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Testimonials

"Tenrox is the most robust
and forward -thinking project workforce management product I have seen for addressing our project workforce management, billing and cost accounting needs. We expect a full return on our investment in less than six months, just for the first phase of implementation."

Russ H.
EVP and Co-founder
Synteract

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Tenrox web based enterprise project management software is a modular solution that helps simplify your, project planning, project tracking, project accounting, expense tracking, enterprise resource / capacity planning, and time and billing.

Traditional project planning and project management software tools put the burden of creating and updating project plans on the managers shoulders. Tenrox makes your project planning and management quicker and easier by using simple and effective workflow tools to help you get the job done quicker and easier.

Our online business project planning and project accounting system is workflow-driven and replaces the spreadsheets and band-aid applications that leave your project-driven work force and processes disconnected. With work breakdown structures to mirror the way you do business, Tenrox allows you to easily map your projects to your corporate structures: Capture and track project data at any level of detail, mirror every business operation area with distinct functional and approval hierarchies, and summarize or drill down into your project workforce financials. Tenrox is the perfect online enterprise project management software solution to align your projects and workforce with your business goals.

With online project management tools by Tenrox, you obtain real-time information on costs, expenses, revenue, profits, project status, schedules and issues, ensuring successful project management planning and delivery. Tenrox Project Workforce Management Software meets the needs of both service organizations for professional services automation and for internal project management offices so you can manage and view both process and financial impact in real time.

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