Back to F050: Basic Financial Configuration

Lesson 1: Configuration of a Company Without Branches

This lesson describes the configuration of a company that has just one oﬀice, including the minimum set of features that has to be enabled for this configuration. The lesson also describes the required settings that have to be configured for the company.

Company Without Branches: General Information

When you initially implement Acumatica ERP, you perform the company configuration that makes it possible for system implementation to proceed. This configuration includes enabling the default set of features and configuring the company in the system. You can proceed to further Acumatica ERP 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 Acumatica ERP, 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 without branches.

Learning Objectives

In this chapter, you will learn how to do the following:

Enable the default set of features before you start the configuration of a company
Perform the configuration of a company without branches

Applicable Scenarios

You configure a company without branches if the company has only one business location. You perform this company configuration as a first phase of the implementation of Acumatica ERP, before the entities needed for business processes are created. You can also add a new company without branches to the existing companies in an existing tenant at any time.

Workflow of the Configuration of a Company Without Branches

To implement the basic configuration of a company without branches in Acumatica ERP, you perform the following general steps:

On the Enable/Disable Features (CS100000) form, you enable the default set of features. For details, see Company Without Branches: To Configure a Company Without Branches.

              In a production environment, aer the features are enabled, you have to activate the
              Acumatica ERP license by using the Activate License (SM201510) form. Each particular feature
              may be subject to additional licensing; please consult the Acumatica ERP sales policy for
              details.

On the Companies (CS101500) form, you create the company entity in the system; you also create its actual ledger. For details, see Company Without Branches: To Configure a Company Without Branches and General Ledger: To Create an Actual Ledger.
On the Chart of Accounts (GL202500) form, you add the accounts that are necessary for performing the financial operations of the company, as described in General Ledger: To Create a Chart of Accounts. Lesson 1: Configuration of a Company Without Branches | 10
On the General Ledger Preferences (GL102000) form, you specify the settings for processing transactions in the general ledger. For details, see General Ledger: To Specify General Ledger Preferences.
On the Financial Year (GL101000) form, you set up the first financial year when the company starts processing its operations in Acumatica ERP. You then generate periods on the Master Financial Calendar (GL201000) form and open them on the Manage Financial Periods (GL503000) form. For more information, see General Ledger: To Define a Financial Year.
On the Cash Management Preferences (CA102000) form, you specify the settings to be used in the system for processing cash transactions. For details, see Cash Management: To Specify Cash Management Preferences.
On the Entry Types (CA203000) form, you add the necessary entry types for processing cash payments. For details, see Cash Management: To Create an Entry Type.
On the Cash Accounts (CA202000) form, you define the cash accounts to be used to record cash entries and funds transfers. For more information, see Cash Management: To Create Cash Accounts.
On the Payment Methods (CA204000) form, you define the payment methods that the company uses to pay its vendors, as well as the payment methods that are used by customers to pay the company. For more information, see Cash Management: To Modify a Payment Method. 10.On the Credit Terms (CS206500) form, you create the sets of credit terms that are commonly used by vendors in their relations with the company and by the company in its relations with customers. These will be assigned to particular vendors and customers and specified in their bills and invoices, respectively. For more information, see Credit Terms: To Define Single-Installment Credit Terms and Credit Terms: To Define Credit Terms with a Cash Discount. 11.On the Vendor Classes (AP201000) form, you create the default vendor class, which will provide default values for vendor accounts of the class and for other vendor classes you create later. For details, see Accounts Payable: To Create a Vendor Class. 12.On the Accounts Payable Preferences (AP101000) form, you specify the settings to be used in accounts payable. See Accounts Payable: To Specify Accounts Payable Preferences for more information. 13.On the Statement Cycles (AR202800) form, you define the necessary statement cycles to track customers' outstanding balances, as described in Accounts Receivable: To Create a Statement Cycle. These cycles will be used later, when you are sending electronic or printed statements to the customers. 14.On the Customer Classes (AR201000) form, you create the default customer class, which will provide default values for customer accounts and for other customer classes you create later. For details, see Accounts Receivable: To Create a Customer Class. 15.On the Accounts Receivable Preferences (AR101000) form, you specify the settings to be used in accounts receivable. See Accounts Receivable: To Specify Accounts Receivable Preferences for more information. 16.On the Tax Categories (TX205500) form, you create the tax categories that will be used for calculating tax amounts in the documents that include stock or non-stock items for which these tax categories are specified.

Company Settings

In Acumatica ERP, you can create new companies or maintain existing companies by using the Companies (CS101500) form. A company may have no branches, or it may consist of multiple branches, with each being a separate oﬀice or point of sale. To configure the company without branches, you have to specify the company's identifier, name, address, units of measure, and ensure that the Without Branches type is selected on the Companies form. You have to specify the company's identifier, name, address, and units of measure. You also specify the base currency of the company, which you cannot change aer you save the newly created company for the first time and save the GL preferences on the General Ledger Preferences (GL102000) form. If you create multiple companies in the tenant, this base currency will be used automatically for all companies and cannot be changed. Lesson 1: Configuration of a Company Without Branches | 11

          You can implement multiple base currencies in one tenant if the Multiple Base Currencies feature is
          enabled on the Enable/Disable Features (CS100000) form. For details, see Multiple Base Currencies:
          General Information. This functionality is out of scope for the current chapter.

Aer the company has been configured, the Without Branches company type can still be changed to With Branches Not Requiring Balancing and With Branches Requiring Balancing at any time if the Multibranch Support feature is selected on the Enable/Disable Features form.

Company Without Branches: To Configure a Company Without Branches

In this activity, you will learn how to enable the minimum set of features and define settings for a company without branches.

Story

Suppose that as an administrator, you are going to start configuring a new company without branches in Acumatica ERP. The company is going to use the default features. You need to enable these features and then you need to configure a company entity in Acumatica ERP for the SweetLife Fruits & Jams company, which at this time has only one oﬀice in New York.

Process Overview

In this activity, you will enable the minimum set of features on the Enable/Disable Features (CS100000) form. On the Companies (CS101500) form, you will create a company without branches and specify its settings. Finally, on the Currencies (CM202000) form, you will review the settings of the new company's base currency.

System Preparation

Before you start configuring a company without branches, sign in to a tenant with the out-of-the-box company as follows:

Enter the admin username and the setup password. You will be asked to set up a new password.
Change the password and confirm the new password, and click Sign In.

Step 1: Enabling the Minimum Set of Features To enable the minimum set of features, do the following:

Open the Enable/Disable Features (CS100000) form.
On the form toolbar, click Enable to enable the default set of features, which are those for which the corresponding check boxes have been selected on the form. This set of features consists of Finance, Standard Financials, Centralized Period Management, Platform, Monitoring & Automation, Scheduled Processing, Authentication, Two-Factor Authentication, Active Directory and Other External SSO, OpenID Connect, Third-Party Integrations, and Experimental Features.
In a production environment, aer the features are enabled and before you proceed with implementation, you have to activate the Acumatica ERP license by using the Activate License (SM201510) form. In this activity, you are using Acumatica ERP under the trial license, which does not require activation and provides all available features.

Step 2: Defining a Company Without Branches To configure the company without branches for SweetLife, do the following: Lesson 1: Configuration of a Company Without Branches | 12

Open the Companies (CS101500) form.

               To open the form for creating a new record, type the form ID in the Search box, and on the
               Search form, point at the form title and click New right of the title.

In the Summary area, specify the following settings:

Company ID: SWEETLIFE
Company Name: SweetLife Fruits & Jams In the Company Type box, notice that Without Branches is selected and unavailable.

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

In the Base Currency Settings section, specify USD - US Dollar in the Base Currency ID box.

               The base currency you select for the first company in the tenant will be applied to all
               companies in the tenant. Aer 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. Aer the GL preferences have been saved, the base currency cannot be
               overridden.

In the Miscellaneous Settings (Shared) section, enter 2 in the Price/Cost Decimal Places box.

               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.

On the form toolbar, click Save to save your changes.
On the same form, you can now create an actual ledger for the company you have created. For details, see General Ledger: To Create an Actual Ledger.

Step 3: Reviewing the Base Currency Settings To review the settings of the company's base currency, which you specified in Step 2, do the following:

Open the Currencies (CM202000) form.
In the Currency ID box, select USD.
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 2. Notice that the Active check box is selected automatically and is unavailable for editing, indicating that this is the base currency.

Activity Recap

In this activity, we have illustrated the following:

The system administrator has enabled the minimum set of features.
The system administrator has created a company without branches and entered its main address, the base currency, and the decimal precision to be used for prices and costs. Lesson 1: Configuration of a Company Without Branches | 13
The system administrator has reviewed the settings of the base currency that was selected for the new company. Lesson 2: Configuration of the General Ledger | 14