Starting a new company in a different country is a way to scale the business. Scaling a business will bring more revenue to the business. At the same time, if you don't track the financial activity, it can be converted to a big loss too. There are many challenges to overcome in managing a subsidiary company. Some challenges are listed here:
- Setup, that is, working with a different chart of accounts and different fiscal period
- Localization reports for the parent and subsidiary companies
- Consolidation of numbers in different reports (Profit and Loss and Balance Sheet are the main reports)
- Managing an intercompany transaction (a transaction in one company will be recorded to the other company automatically)
- Managing intercompany access rights
There are many such challenges to be addressed in order to succeed in setting up and working in a multi-company environment.
Let's see how Odoo can manage all your challenges to scale business and get consolidation and control over multi-company environments. Odoo also supports automation for the inter-company transaction rules while working in a multi-company environment.
