- Create Customer record
- Ensure that there is “Customer” record created for the new company (Accounting (or Sales) > Customers). If needed, click the + (ADD) button to create a new Customer Record
- Note the Q360 Customer No:__________
- Setup the new company as entity in Q360
- Path: Accounting > Admin > Company Setup (requires permissions ACCOUNT and ACCADMIN)
- Click the + (ADD) button to create a new company, or click the main search button to see all Companies currently set up in your system.
- When creating a new company, assign the Customer No that you created in Step 1 above.
- Add the Company name that you would like to use to refer to the new company in Q360. Keep this name to about 25 characters or less as this is what will show in Q360 forms/drop downs.
- For each tab on the “Company Administration” setup form, add the appropriate GL Accounts. These should be similar or match your other companies. Considerations include:
- You may need a separate bank account for each company.
- Each Company needs to have an Inter-Company GL account which can either be an asset or liability account.
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- Although this is flexible, the decision to use an asset or liability account may be driven by the type of transactions that you expect to post to this account for each company.
- In Q360 v10.01+, the posting of time bills and labor costs can be automated between companies. Set the Intercompany Account on the Asset tab of the “Company Administration” setup form.
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- On the Misc tab of the “Company Administration” setup form:
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- Select your default currency and start date.
- If using a multi currency setup, you will need to look at setting up Currency under Accounting>Admin>Currency Administration [refer to article Multi Currency and Foreign Exchange].
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- Upload a logo to the Logo tab of the “Company Administration” setup form.
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- We recommend using your existing logo as a template for the size and resolution of the new company logo.
- Refer to logo specs.
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- Setup the Fiscal Calendar for the new company
- Accounting > Admin > Fiscal Calendar
- Create Default Extended Account Rules for the new company
- Accounting > Admin > Default Extended Accounts
- Create new BRANCH and DEPARTMENT codes, as necessary
- Accounting > Admin > Branch and Dept Maintenance
- Update USERIDs / access, as necessary
- Maintenance > User Maintenance > Search for User.
- Add the appropriate access on the User’s Company and Role/Branches tab
- Specify relationships with this new company
- You can also associate any USERS, CUSTOMERS, VENDORS, and EMPLOYEES with the new company.
- Set opening balances for GL accounts
- Set opening balances for the new company and import data.
- Contact Solutions360 for assistance with setting up Opening Balances or any necessary data imports.