Multiple Companies Configuration Overview

The Multiple Companies Configuration feature enables you to define the following information for multiple companies:

  • Accounts payable control and accounts receivable control GLAs
  • Credit terms
  • Default tax
  • Finance contact

Instead of retrieving the information from the Account object, it is retrieved from the following fields on the Multiple Companies Account Config custom object:

  • Accounts Payable Control
  • Accounts Receivable Control
  • Finance Contact
  • Input VAT/GST Code
  • Multi-Account Credit Terms
  • Output VAT/GST Code
  • Tax Status
Notes:

  • If you are upgrading Accounting to Spring 2024 or Summer 2024, and you are already using the Multiple Companies Configuration feature to define default tax information, you must also define the following information for multiple companies:

    • Accounts payable control and accounts receivable control GLAs
    • Credit terms
    • Finance contact

    To easily create the necessary multiple companies account config records containing the additional information, we recommend using Datastream. For more information, see Managing Multiple Companies Account Configs.

  • If you use this feature, the fields of any records on the Multiple Companies Account Config object override the related fields on the Account object. For more information, see Multiple Companies Account Config Fields.

Prerequisites

To use Multiple Companies Configuration, you must:

  1. Enable the Multiple Companies Configuration feature in the Feature Console. For more information, see Enabling Multiple Companies Configuration.
  2. Select the Use Multiple Companies Configuration field in the Accounting Settings custom setting. For more information, see Accounting Settings.
  3. Create multiple companies account config records either manually or using Datastream. Note that the Company and Account combination of fields must be unique. For more information, see Managing Multiple Companies Account Configs.

Usage

You can use multiple companies account configs to manage:

  • Multiple tax statuses
  • Multiple finance contacts per company
  • Multiple credit terms per company
  • Unique accounts receivable and accounts payable GLAs per company

Multiple Tax Statuses

You can define default tax information for multiple companies. Instead of retrieving the information from the Tax Status field on the Account object, this information is retrieved from the Tax Status field on the Multiple Companies Account Config custom object.

This can be applied to the following documents:

  • Payable credit notes
  • Payable invoices
  • Sales credit notes
  • Sales invoices

To use the tax information on the related multiple companies account config instead of the related account's tax information, you must:

  1. Populate the following fields on the related multiple companies account config record:
    • Tax Status
    • Output VAT/GST Code
    • Input VAT/GST Code
  2. Select the Use Multiple Companies Configuration field in the Accounting Settings custom setting.

Multiple Finance Contacts per Company

If you use Automated Collections, you can send reminders and customer statements to the finance contact specified on the related multiple companies account config. This is useful when you have multiple contacts from different companies associated with the same account.

To use the finance contact on the related multiple companies account config instead of the related account's finance contact, you must:

  1. Populate the Finance Contact field on the related multiple companies account config record
  2. Select the Use Multiple Companies Configuration field in the Accounting Settings custom setting

If you use this feature, you can still send reminders to a collections communication contact on the related contact.

For more information, see Automated Collections

Multi-Account Credit Terms

You can use multi-account credit terms when your companies trade with the same vendor and customer accounts. This can help you determine the due date and discounts for billing documents sent to multiple accounts and manage credit terms for multiple companies in one central location.

To use the multi-account credit terms on the related multiple companies account config instead of the related account's or company's credit terms, you must:

  1. Create a new multi-account credit terms record.
  2. Populate the Multi-Account Credit Terms field on the related multiple companies account config record.
  3. Select the Use Multiple Companies Configuration field in the Accounting Settings custom setting.

For more information, see Multi-Account Credit Terms Overview.

Unique Accounts Receivable and Accounts Payable GLAs per Company

You can use unique accounts receivable control and accounts payable control GLAs when your companies trade with the same vendor and customer accounts. When posting sales and payable documents, the accounts receivable and accounts payable GLA information on a related multiple companies account config record can be used on the document's transaction line items of the "Account" type.

To use the accounts receivable control and accounts payable control GLA information on a related multiple companies account config instead of the related account's GLAs, you must:

  1. Populate the Accounts Receivable Control and Accounts Payable Control fields on the related multiple companies account config record. Depending on whether the related company uses a local chart of accounts structure, you can use either local or corporate accounts payable and accounts receivable GLAs.
  2. Select the Use Multiple Companies Configuration field in the Accounting Settings custom setting.

For more information, see: