Defining Financial Companies within the Organization Unit

Organizations and organization units are also required to have at least one financial company. Having multiple financial companies has no impact on staff. Multi-financial company characteristics include:

·            Creating intercompany transactions are automated with multiple companies.

·            Creating intercompany (due-to/due-from) transactions are automated.

·            Sharing revenue between financial companies in the same organization unit.

Financial companies can be created here or within the organization unit definition. Please refer to Organization Unit Defaults Setup for more information.

For more information about uploading GL accounts within the financial company, please see Uploading GL Accounts.

To define financial companies within the organization unit:

1.    From the Define Segment Structures screen, click Next.
Alternatively, from the Personify360 main toolbar, select System Admin > Organization Structure > Create New Organization from the toolbar. Search for and select the appropriate organization or create a new organization. Click Next.  The Defining Organization Units screen displays. Click Next. The Define Segment Structure screen displays. Click Next.
The Define Financial Companies screen displays, as shown below.

2.    From the grid, select the appropriate org unit.

3.    From the Define Financial Companies within this Organization Unit, click Add.
The Company Detail fields are enabled and a new row displays.

4.    Enter the Company Number.

5.    Enter the Company Name.

6.    Click Save.
If necessary, click Previous to return to the Define Segment Structure screen.

At this point, further setup to your new organization unit is better handled within that new organization unit. In order to accomplish this, you will need to establish security rights for your user. Please refer to Granting Security Access to Create GL Accounts for more information.