Does anyone have any experience with separating a branch of your company into a separate company or separate tenant in Acumatica? We have entered into a membership agreement with another entity and need our Foundation (currently a branch of our company in Acumatica) to be completely separate with its own set of customizable financial statements. Just wondering if we should make our foundation a new company under the same tenant or create a completely new tenant in Acumatica???
Solved
Acumatica New Tenant vs. New Company
Best answer by Laura03
Good morning,
If the new company can share the same chart of accounts, same lists of vendors/customers (more or less), it is far easier to set up the new company as a company or branch in the same tenant that is already configured.
When you start a brand new tenant, there is a lot more configuration/setup to be done.
Once the ‘birth date’ of the new foundation is decided, the accountants will make closing entries for the current branch of current company (if needed) and then make opening entries into the new Foundation.
Depending on how the financials are designed, if the new Foundation is a company in the same tenant, the existing reports will work and will balance. You’ll just be printing for a different company:
+20Good morning,
If the new company can share the same chart of accounts, same lists of vendors/customers (more or less), it is far easier to set up the new company as a company or branch in the same tenant that is already configured.
When you start a brand new tenant, there is a lot more configuration/setup to be done.
Once the ‘birth date’ of the new foundation is decided, the accountants will make closing entries for the current branch of current company (if needed) and then make opening entries into the new Foundation.
Depending on how the financials are designed, if the new Foundation is a company in the same tenant, the existing reports will work and will balance. You’ll just be printing for a different company:
Laura when setting up a new company if it has a separate chart of account, can you still set it up as a separate company or do you have to make it a new tenant?
+20Hello KGantz!
Companies in the same tenant do still share the same Chart of Accounts, and Customers/Vendors/Stock Items Lists, to name a few.
Acumatica has added Visibility controls for Customers and Vendors, in case you’d like to limit Customers and Vendors to one company.
While Restriction Groups can be used to control access to different GL Accounts & Subaccounts by Company. I recommend one shared Chart of Accounts for ease & efficiency.
Restriction Groups require configuration, testing and ongoing Maintenance: every time a Company, Branch, Account or Subaccount is added, Restriction groups will need to be updated & re-tested.
Best regards,
Laura
So, if they are not going to share the same Chart of Accounts, at that point we would need to set-up a separate tenant
+20So, if they are not going to share the same Chart of Accounts, at that point we would need to set-up a separate tenant
Yes, correct. If you’re not interested in using Restriction Groups to control Branch-Account relationships then a separate tenant is an alternative solution.
GL Consolidation features or Velixo reporting add-on can help you combine the companies for reporting purposes.
Laura
in setting up a new tentant, can you only company the basic set-up and not the data ---IE (Do not copy, vendor list, the GL etc.)
+20in setting up a new tentant, can you only company the basic set-up and not the data ---IE (Do not copy, vendor list, the GL etc.)
Yes, you can make a Snapshot of your current company and select from the following Export Modes:
Then restore your snapshot over a new tenant.
Enter your E-mail address. We'll send you an e-mail with instructions to reset your password.