Company with Branches that Require Balancing: General Information

When you initially implement MYOB Acumatica, you perform the company configuration that makes it possible for system implementation to proceed. This configuration includes enabling the necessary set of features and configuring the company in the system. You can then proceed to further MYOB Acumatica implementation, which includes specifying the basic settings related to the general ledger and to cash management, accounts payable, and accounts receivable.

When you configure a company in MYOB Acumatica, it can be defined as being without branches, as consisting of branches that require balancing entries (if transactions involve multiple branches), or as having branches that do not require balancing entries. The topics of this chapter describe the configuration of a company with branches that require balancing.

Learning Objectives

In this chapter, you will learn how to perform configuration of a company with branches that require balancing.

Applicable Scenarios

You configure a company with branches that require balancing if the company has multiple offices, but reports are provided separately for each branch. The offices all use the same base currency, ledger, units of measure, chart of accounts, and financial year structure.

You perform company configuration as a first phase of the implementation of MYOB Acumatica, before the creation of the entities needed for business processes. You can also add a new company or a new branch to the existing companies in the tenant at any time.

Workflow of the Configuration of a Company With Branches that Require Balancing

To implement the basic configuration of a company with branches requiring balancing in MYOB Acumatica, you perform the following general steps:

1. On the Enable/Disable Features (CS100000) form, you enable the default set of features and the Multibranch Support, Multicompany Support, and Inter-Branch Transactions features. For details, see Company with Branches that Require Balancing: Implementation Activity.

   With the Multicompany Support feature enabled, users can create multiple companies within a tenant; with the Multibranch Support feature enabled, users can create companies with multiple branches.

   The Inter-Branch Transactions feature gives the users the ability to configure the automatic generation of interbranch balancing transactions for each transaction that involves any of the following: multiple companies, branches of different companies, or branches that belong to one company and require balancing. If this feature is disabled, the users can create interbranch transactions between only branches that belong to one company and do not require balancing.

   Note: In a production environment, after the features are enabled, you have to activate the MYOB Acumatica license by using the Activate License (SM201510) form. Each particular feature may be subject to additional licensing; please consult the MYOB Acumatica sales policy for details.
2. On the Companies (CS101500) form, you create the company entity in the system, and specify a type. You then add branches on the Branches (CS102000) form. For details, see Company with Branches that Do Not Require Balancing: Implementation Activity.
3. On the Companies (CS101500) form, you create the company’s actual ledger. All branches of the company will use this single ledger for posting. For details, see General Ledger: To Create an Actual Ledger.
   Note: Regardless of the company type, you can configure and use only one actual ledger for a company, which all branches will use.

Company Settings

In MYOB Acumatica, you create new companies or maintain existing companies by using the Companies (CS101500) form. On this form, to configure the company with branches that require balancing, you have to specify the company's identifier, name, and address, and you ensure that the With Branches Requiring Balancing type is selected. You also specify the base currency of the company, which you cannot change after you save the newly created company for the first time. If you create multiple companies in the tenant, this base currency will be used automatically for all companies and cannot be changed, if the Multiple Base Currencies feature is disabled on the Enable/Disable Features (CS100000) form. (If the company is not the first company you are creating in the tenant, the base currency is already filled in.)

After you have created the company, you add branches to it on the Branches (CS102000) form. You can navigate directly to this form or open it by clicking Add Branch on the Companies form. On the Branches form, for each branch you want to add, you specify its general information, including its identifier, name, address, default location, and employees.