Adding and Updating Locations - Step-by-Step Transcript
Step 1
Manually add a location with SoftLedger
In SoftLedger locations may be an operating or non-operating entity, a line of business or perhaps just a simple geo-based business unit.
In this example Abacus Global is expanding to Europe and we will add the Abacus Europe operating entity.
Step 2
To manage your locations navigate to Financial > Locations.
Step 3
Abacus currently has 4 locations – the Abacus Global parent company, Abacus US and its subsidiaries Abacus Products and Abacus Services. We can filter, sort and display different views (very useful when you have many locations and hierarchies).
Note each location has a reporting currency.
Step 4
Left-click +New to manually add our new Abacus Europe location.
Step 5
Update the Location with key information such as name/ID, parent location and reporting currency.
Step 6
Abacus Europe is now added and we can post journals, invoices and bills.
Abacus Europe’s reporting currency is Euros, but we can record financial transactions on any currency (including crypto currency).
Step 7
Locations can be added, edited and updated at any time as your business grows and changes.
Step 8
The Location picker is used to navigate through the location hierarchy and focus on a specific location for data entry and reporting. We are at the Abacus Global location level.
We can use the pop-up menu to navigate to the new Abacus Europe location.
Step 9
Abacus Europe in now organized into our location hierarchy.
All transactions will immediately consolidate into total Abacus Global. In this example our balance sheet format is updated and ready!
Step 10
Want to see more? Book a demo and and we can walk through our enterprise accounting platform with you and discuss how SoftLedger will meet your requirements.