Re: Multi-company to a single company

   Nice to know there's life after MAPICS!  ;)
    
    
    
   -----mapics-l-bounces@xxxxxxxxxxxx wrote: -----

     To: "MAPICS ERP System Discussion" <mapics-l@xxxxxxxxxxxx>
     From: "Bob Tenney" <bobtenney@xxxxxxxxxxxxx>
     Sent by: mapics-l-bounces@xxxxxxxxxxxx
     Date: 03/15/2007 08:49PM
     Subject: Re: [MAPICS-L] Multi-company to a single company

     MAPICS has evolved since I wrote the IFM Book. FRx lets you have balance
     sheets for organizations within a company by plugging the debit / credit
     imbalance that results when a balance sheet's scope does not include an
     entire company. If you use FRx this way you should be aware of two
     things:

     1. You need to identify assets and liabilities to "balance sheet"
     organizations within a company for FRx to generate these balance sheets.
     Doing this when you enter transactions is very cumbersome and time
     consuming. Consider using IFM's Apportionments function or FRx's
     Allocations capabilities to minimize transaction entry workload. Also,
     consider having selected assets and liabilities that are not identified
     to "balance sheet" organizations.

     2. Your balance sheets will always balance. This means that you cannot
     rely on a debit / credit imbalance to tell you if your report definition
     needs to be updated because it does not include all accounts.
     Fortunately, you can minimize this problem by creating all
     organizational balance sheets from a single reporting tree and having
     FRx check for omitted accounts.

     Except for www.tenneypubs.com and reading the MAPICS forum, I have
     dropped out of the MAPICS arena. I own www.thethreadexchange.com a
     web-based thread site with three employees and enough thread to go to
     the moon and back.  My accounting system is Quick Books, my Customer
     Order Management System is MIVA, and my inventory control system is a
     spreadsheet.

     Bob Tenney
     828-658-8670

     Visit www.tenneypubs.com for books about
     MAPICS and FRx
     ----- Original Message -----
     From: <Chris.Neely@xxxxxxxxxx>
     To: <mapics-l@xxxxxxxxxxxx>
     Sent: Thursday, March 15, 2007 1:27 PM
     Subject: [MAPICS-L] Multi-company to a single company

     > All,
     >
     > I have come across the following statement concerning whether or not
     we
     > would need to have separate financial divisions(companies) in IFM. The
     > statements come from a book I have on IFM written by Bob Tenney. Can
     > anyone confirm if this statement is still valid?
     >
     > There are two simple tests that tell you if you must have a separate
     > financial division for an organization within your business:
     >
     > Are you required to produce a balance sheet for the organization? For
     > example:
     >  
     >         If you set up an organization as a separate legal entity, you
     will
     > be required to prepare balance sheets for it. Therefore, you must
     record
     > its activity in a       separate financial division.
     >
     >
     > Does the organization keep its books in a currency that is different
     from
     > other organizations in your business? For example:
     >
     >         Suppose you have sales offices in New York, Los Angeles, and
     > Toronto. Since Canadian authorities will insist that you keep your
     fiscal
     > records in              Canadian dollars, you must have a separate
     > financial division for your Toronto sales office.
     >
     >
     >
     > Thanks for any assistance.
     > _______________________________________________
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