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???
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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:
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