Use STORIS' Multi-Company Processing feature if you use multiple corporations in your system. Multi-Company Processing segregates transactions by company in both the data processing and data reporting functions.
Once you activate this feature, all multi-company processing and reporting occurs automatically. The system handles transactions using the following steps:
Activity takes place that requires posting to a General Ledger account.
The system checks the cost center element (LL) of the GL account to identify the cost center to which it is linked.
The system checks the warehouse location’s (cost center) associated Company field to identify the company to which the warehouse belongs (CC).
The system posts data to the appropriate company’s GL accounts.
Before setting up any Multi-Company Processing options, we recommend you work with your project coordinator and your accountant to ensure you set the options properly. Consider the following:
All companies must have the same fiscal year-end.
Each STORIS location can belong to only one company.
Multi-company logic takes effect whenever activity occurs between locations that belong to different companies. That is, if you transfer inventory between two warehouses that belong to different companies, STORIS generates separate General Ledger batches for each company.
The default company (specified at the Default Company Number field in the General System Control Settings) receives all postings for which a location is not specified.
You can build balance sheets and income statements for a single company or all companies combined. Note that you can also produce multi-company statements using FGII.
Using the standard three-element account structure, the following table illustrates your General Ledger account structure when using Multi-Company Processing:
CC-NNNN-LL
Element |
Description |
CC |
Company Element (defined in the Company File) |
NNNN |
Root (defined in the General Ledger Assigned Account Settings) |
LL |
Cost Center (defined in the Warehouse Location file) |
Use the following STORIS files to set up Multi-Company Processing:
General Ledger Assigned Account Settings (Multi-Company tab)
The following are brief descriptions of the STORIS routines you use to set up your system for Multi-Company Processing:
General System Control Settings
Default Company Number (General Information tab) - receives all postings for which a location is not specified.
Multi-Company Processing (Advanced Settings tab) - activates the Multi-Company Processing feature.
Use this routine to create your account numbers. You create account numbers using the following hierarchy of account elements:
Account
The use of sub-accounts is optional via
the Use Sub-Accounts field in the General
Ledger Control settings.
The entry of account numbers is dynamically based on the elements and their
prompt names as established in the General Ledger Control Settings.
General Ledger Assigned Account Settings
Once you create your account numbers in the GL Account Settings, use this routine to designate the account number to your various processes. The Multi-Company tab contains two fields used by Multi-Company Processing for transactions involving money transfers between multiple companies.
Multi-Company Due-To - use this field to specify the account number to use for transactions that move money into a company. This account is also known as the Inter-Company Payable account.
Multi-Company Due-From - use this field to specify the account number to use for transactions that move money out of a company. This account is also known as the Inter-Company Receivable account.
You cannot wild
card these accounts for location. They always use the system default.
Prompt for Company - If you check the box at this field, the AP Approval process prompts for the company to use for AP postings. If you leave this field blank, the process uses the company specified in the Company To Use field (see below).
Company To Use - If you leave blank the Prompt for Company field, the system uses the company specified here for AP postings in the AP Approval process.
Bill-To Company - Use this field to specify the company to which you want to post automatically generated AP bills.
Refund Bill-To Company - Use this field to specify the company (if any) you want to use for customer refund bills. If you leave this field blank, the system uses the log-on location for customer refund bills.
STORIS requires you create a company record for each company you use within a multi-company operation. Use this file to create the required records.
Default Check Print Bank - Use this field to enter a default check print bank for each company. This field is active only if using STORIS Accounting. If multi-company processing is active, this field is required for each company.
You must create a bank record for each bank you use in the system, and you must assign a company to each bank in your system. To assign a company, use the Company Number field.
Warehouse/Store Location Settings
This file contains two fields used in Multi-Company Processing.
Company Number - use this field to assign the location to a company.
Bank Number - use this field to assign the location to a bank.