Unlike many other ERP systems, Acumatica allows you to combine either multiple companies or multiple branches into a single tenant. This means you don’t have to log in and log out each time you want to work in a different company/branch. Also, you can share master records, chart of accounts, customers, vendors, items, etc… You can also customize each company/branch with a separate color theme, so you quickly know where you are working. You can even set up different logos, 1099 preferences, and more.
To be able to put all of your companies into one Acumatica tenant, there are a couple of requirements that do need to be met. They need to have the same GL account structure and currently, they all need to have the same base currency. However, they can have different fiscal year calendars. In this video, we will show a demo of working with multiple companies in Acumatica.
“Before we jump into the general ledger, I do want to take a moment and talk about how Acumatica utilizes the ability to combine either multiple companies or multiple branches into a single Acumatica tenant.
What you’re seeing here on the screen is a tree structure of the company branch setup that we have here in this demo company. What we’re seeing here are three companies, Revision Two Capital, two products, and two services, with some branches, or you may refer to them as locations, underneath the company.
When you’re looking at other systems, a lot of times it’s lacking inability to be able to take those companies or those branches and put them all into one tenant or one database. Acumatica does a great job of allowing that. Some of the advantages of having the companies and branches all in one Acumatica tenant is that you don’t need to log in and out of the particular company or branch. Also, you can share Master Records. You can share the same chart of accounts, you can share same customers, vendors, items. It creates less maintenance on those type of records as well when you’re able to have them all living within the same environment.
Some things that you can do at a company branch level is you can upload logos. You can have a logo that’s specific to a company or a branch. Regarding 1099 reporting, Acumatica has a lot of diversity in that particular area where you can specify whether or not you do 1099 reporting under a particular company or branch. Shawn is going to take us there now, so we can see some of that. Under the company details, you can see the check box in the middle of the screen where you can say if you’re filing a 1099 by either a company or by branch, which has turned on here.
The other thing is you go to Visual Appearance and you’re going to see this is where you can upload a logo that is specific to this company. That can be used as your site logo or as your report logo. Depending on if you’re sending out an invoice to your customer, which company that invoices for it’s going to go out and it’s going to pull the right logo based on what is uploaded in this company, or you can get down to a branch level as well, that branch screen.
One other thing that you can do at a company or branch level is you can set some company-specific coloring to that company to give you a quick visual of which company or which branch you’re logged into. We have this particular branch products wholesale, their color is set to a reddish color. Whereas if we were to go look at some other branches, they would have a different color. What that translates to is when we toggle up top between different companies or branches, you’re going to notice the coloring updates to that particular branch or company’s color. Again, because you’re in, you’re logging into Acumatica once having that color kind of right out there just helps to remind you which company or branch you actually have set and will be working in.
Now to be able to put all of your companies into one Acumatica tenant, there are a couple of requirements that do need to be met. They do need to have the same GL account structure and currently, they all need to have the same base currency. If you’re in a multicurrency environment and your companies have different base currencies today, we can’t consolidate that all into one tenant. Acumatica is talking about coming out with some enhanced functionality in the near future that will allow us to combine companies into one environment, even if there is a different base currency.
But today those are the two restrictions. If you don’t have the same chart of account structure, or you have different base currencies for your companies, we would need to set those up separately.
One thing that I do want to point out that I think is different in Acumatica compared to other systems that I’ve worked in, is that it does allow you to combine if you have a different calendar year per company. If I was to navigate over to my company’s financial calendar, here’s where you’re going to see that per company… Here’s where you set up your year, whether it be calendar year or fiscal year.”
This is a snippet from a detailed Acumatica overview. Watch the full video – Acumatica Lunch and Learn Part 2 – Acumatica Financials.
If you want to see more features that stand out in Acumatica review the series of articles our senior ERP consultants have published that compare Acumatica vs Microsoft Dynamics GP.
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By CAL Business Solutions, Acumatica and Microsoft Dynamics GP Partner, www.calszone.com