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Accounting Seed Launches a New Consolidations Feature for its Platform

Accounting Seed Consolidations
Accounting Seed Consolidations

Source: Accounting Seed

Accounting Seed has announced a new consolidations feature for its platform, which will enable users to combine assets, financial data, and liabilities from two or more legal entities into one. This update also introduces other upgrades to the platform’s bank reconciliation, permission set, and Bank Direct Connect features. The new features are part of the Magnolia Release, the first phase in a three-part release.

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Accounting Seed is an accrual accounting and ERP platform powered by Salesforce. The solution is designed to help companies track financial data across business lifecycles, from marketing, sales, back-office accounting, and project implementations. Its features include order management, tax accounting, data security, inventory management, automated billing, reporting, financial dashboards, no-code general ledger, payment managing, and an intuitive user interface.

With the new consolidations feature, Accounting Seed customers can guarantee compliance with the accounting standards related to consolidations, accurately forecast company goals, and convince stakeholders of the value of those goals. The other capabilities included in the Magnolia Release include performance updates for Accounting Seed’s bank reconciliation tools, the ability to match source record updates to Bank Direct Connect, and Cash In permission features for bank deposits.

Ryan Sieve, the Chief Technology Officer at Accounting Seed, made the following statement to accompany the company news: “Our customers have been looking forward to native consolidations, and we are so pleased to bring this Lightning-ready feature to our users. Particularly for companies that operate with multiple entities in the United States, Magnolia brings even more ease of use and shows that we are a solution that grows and scales with their needs.”

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