Overview:
Organizational Units are your legal entities, balance sheets, and profit/loss centers, that create your company/organizational structure. Organizational structures are commonly grouped into parent/child relationships such as the example below. Organizational units are the basis for all accounting transactions and accounting reporting. Every accounting transaction that is processed in PENTA will have an Organizational Unit Id assigned to both the debit and credit side of the transactions.
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Benefits:
- The foundation of all financial reporting. Breaking out your company into multiple organizational units allows you to run reports at any level of the company
- Ability to define default information such as default tax information/jurisdictions, default logo's, approval managers, 1099 information, base currency information, and more
- Provides functionality for automatic inter-company charging where PENTA can auto book the offsetting inter-company Accounts Payable and inter-company Accounts Receivable balances between two balance sheets on a single accounting transaction
Roles:
- Accounting Manager
- CFO
Location:
- Financial & Accounting > Setup > Organization Units > Organizational Units
Video: