Company with Branches that Do Not Require Balancing: Implementation Activity

In this activity, you will learn how to enable the necessary set of features, define settings for a company with branches that do not require balancing, and define settings for the branches of the company.

Story

Suppose that as an administrator, you are going to start configuring the SweetLife company with the following branches, which do not require balancing:

  • SweetLife Office and Wholesale Center
  • SweetLife Store
  • Service and Equipment Sale Center

The company is going to use the default features and the Multibranch Support feature; you need to enable these features. You then need to configure a company entity in MYOB Acumatica for the SweetLife Fruits & Jams company with these three offices in New York.

System Preparation

Before you start configuring a company with branches that do not require balancing, sign in to a tenant with the out-of-the-box company as a system administrator with the admin login.

Step 1: Enabling the Minimum Set of Features

To enable the minimum set of features, do the following:

  1. Open the Enable/Disable Features (CS100000) form.

    Notice that the check boxes are initially selected for the standard features. These features include Finance, Standard Financials, Centralized Period Management, Monitoring & Automation, Scheduled Processing, Authentication, and Third-Party Integrations.

  2. Select the Multibranch Support check box.

    It is now possible to create multiple companies without batches, a company with multiple branches, or multiple companies with or without branches within one tenant.

  3. On the form toolbar, click Enable to enable the selected set of features.

In a production environment, after the features are enabled and before you proceed with implementation, you have to activate the MYOB Acumatica license by using the Activate License (SM201510) form. In this practice activity, you are using MYOB Acumatica under the trial license, which doesn't require activation and provides all available features.

Step 2: Defining a Company with Branches that Do Not Require Balancing

To configure the company with branches that do not require balancing for SweetLife, do the following:

  1. Open the Companies (CS101500) form.
  2. In the Summary area, specify the following settings:
    • Company ID: SWEETLIFE
    • Company Name: SweetLife Fruits & Jams
    • Company Type: With Branches Not Requiring Balancing
  3. In the Main Address section of the Company Details tab, specify the following address settings:
    • City: New York
    • Country: US - United States of America
    • State: NY - New York
  4. In the Base Currency Settings section, specify USD in the Base Currency ID box.
    Note:
    The base currency you select in this box for the first company in the tenant will be applied to all companies in the tenant. After you specify the base currency and save your changes, the base currency can be overridden until GL preferences are saved on the General Ledger Preferences (GL102000) form. Once the GL preferences are saved, the base currency cannot be overridden.
  5. In the Miscellaneous Settings (Shared) section, enter 2 in the Price/Cost Decimal Places box.
    Tip:
    If you later add additional companies to the tenant, the settings you specify in this area for the first company in the tenant will be applied to all companies in the tenant.
  6. On the form toolbar, click Save.

Step 3: Defining the Company’s Branches

To define SweetLife’s branches, do the following:

  1. While you are still viewing the SweetLife company on the Companies (CS101500) form, on the Branches tab, click Add Branch.

    The Branches (CS102000) form opens with the predefined company. First, you will create a branch for the SweetLife head office and wholesale center.

  2. In the Summary area, specify the following settings:
    • Branch ID: HEADOFFICE
    • Branch Name: SweetLife Head Office and Wholesale Center
    • Company: SWEETLIFE
  3. In the Main Address section of the Branch Details tab, specify the following address settings:
    • Address Line 1: 69 Main St, Flushing
    • City: New York
    • Country: US (United States of America) (inserted by default)
    • State: NY - New York
  4. On the form toolbar, click Save.
  5. On the form toolbar, click Add New Record, and in the Summary area, specify the following settings to create a branch for the SweetLife retail store:
    • Branch ID: SWEETSTORE
    • Branch Name: SweetLife Store
    • Company: SWEETLIFE
    • Address Line 1: 4899 Bell Street, Staten Island
    • City: New York
    • Country: US (United States of America) (inserted by default)
    • State: NY - New York
  6. On the form toolbar, click Save.
  7. On the form toolbar of the Branches form, click Add New Record, and in the Summary area, specify the following settings to create a branch for the service and equipment sales center:
    • Branch ID: SWEETEQUIP
    • Branch Name: Service and Equipment Sales Center
    • Company: SWEETLIFE
    • Address Line 1: 218 Oakwood Ave
    • City: New York
    • Country: US (United States of America) (inserted by default)
    • State: NY - New York
  8. On the form toolbar, click Save and close the Branches form.

The system returns you to the Companies form, on which you can now create an actual ledger for the company and branches you have created. For details, see General Ledger: To Create an Actual Ledger.

Step 4: Reviewing the Base Currency Settings

To review the settings of the company's base currency that you selected in Step 3, do the following:

  1. Open the Currencies (CM202000) form.
  2. In the Currency ID box, select USD.
  3. In the Summary area, review the values in the Description, Currency Symbol, and Decimal Precision boxes for the base currency you selected for the company in Step 3.

    Notice that the Active check box is selected automatically and is unavailable for editing. This setting means that this is the base currency.