Balance Sheet & Income Statement Per Plant?

Yahoo Archive
1
This is what happens when the non-accountant gets involved.

After reviewing with the accountant this morning, this is a non-issue as he said pretty much what you said. To be fair, he was the one that instigated the in balance balance sheet.

Thanks for the information!
Ken

________________________________

From: vantage@yahoogroups.com on behalf of Thomas Rose
Sent: Tue 7/8/2008 7:39 AM
To: vantage@yahoogroups.com
Subject: [Vantage] RE: Balance Sheet & Income Statement Per Plant?



I understand what you want to do, but my first inclination is to advise against it. If you tell me that the plant is in charge of the accounts receivable and cash (and all other items on their balance sheet), then I would say it may be appropriate. Most companies are not organized that way, though. In my experience, only autonomous subsidiaries of large companies keep their own balance sheets. I am sure there are companies that do otherwise, but I have a hard time imagining a managerial decision making benefit from doing that.

If you do want to proceed, here are a few thoughts. Do you have a different division for each plant? If so, just set up an AR and cash account and post each transaction to the correct division's AR or cash. I'm not sure how to actually create the report, but once you have things segregated by division, it should not be that difficult to set up a division balance sheet and income statement.

Thom Rose
Controller
Electric Mirror, LLC
T 425 776-4946 ext. 1024
A 11831 Beverly Park Road, Building D, Everett, WA 98204 USA
www.electricmirror.com<http://www.electricmirror.com/ <http://www.electricmirror.com/> >

From: vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com> [mailto:vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com> ] On Behalf Of Ken Williams
Sent: Monday, July 07, 2008 6:33 PM
To: vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com>
Subject: {Disarmed} [Vantage] Balance Sheet & Income Statement Per Plant?

Is it possible to configure the system to allow a balanced balance sheet
& income statement per plant level in Vantage?

It works well for material transactions (tying to the plant) but AR/Cash
doesn't tie to the plant level. I envision some sort of roll-up account
for these types where it posts to the individual plant level but rolls
up for the company wide transaction? Otherwise, I don't see how you
could ever print a balance sheet or income statement that would be in
balance on the "division" (aka plant) level.

Hopefully that makes some sort of sense and someone that actually knows
what I'm talking about can decipher it.

Ken

[Non-text portions of this message have been removed]

[Non-text portions of this message have been removed]






[Non-text portions of this message have been removed]
2
Is it possible to configure the system to allow a balanced balance sheet
& income statement per plant level in Vantage?

It works well for material transactions (tying to the plant) but AR/Cash
doesn't tie to the plant level. I envision some sort of roll-up account
for these types where it posts to the individual plant level but rolls
up for the company wide transaction? Otherwise, I don't see how you
could ever print a balance sheet or income statement that would be in
balance on the "division" (aka plant) level.

Hopefully that makes some sort of sense and someone that actually knows
what I'm talking about can decipher it.

Ken


[Non-text portions of this message have been removed]
3
I understand what you want to do, but my first inclination is to advise against it. If you tell me that the plant is in charge of the accounts receivable and cash (and all other items on their balance sheet), then I would say it may be appropriate. Most companies are not organized that way, though. In my experience, only autonomous subsidiaries of large companies keep their own balance sheets. I am sure there are companies that do otherwise, but I have a hard time imagining a managerial decision making benefit from doing that.

If you do want to proceed, here are a few thoughts. Do you have a different division for each plant? If so, just set up an AR and cash account and post each transaction to the correct division's AR or cash. I'm not sure how to actually create the report, but once you have things segregated by division, it should not be that difficult to set up a division balance sheet and income statement.

Thom Rose
Controller
Electric Mirror, LLC
T 425 776-4946 ext. 1024
A 11831 Beverly Park Road, Building D, Everett, WA 98204 USA
www.electricmirror.com<http://www.electricmirror.com/>

From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf Of Ken Williams
Sent: Monday, July 07, 2008 6:33 PM
To: vantage@yahoogroups.com
Subject: {Disarmed} [Vantage] Balance Sheet & Income Statement Per Plant?


Is it possible to configure the system to allow a balanced balance sheet
& income statement per plant level in Vantage?

It works well for material transactions (tying to the plant) but AR/Cash
doesn't tie to the plant level. I envision some sort of roll-up account
for these types where it posts to the individual plant level but rolls
up for the company wide transaction? Otherwise, I don't see how you
could ever print a balance sheet or income statement that would be in
balance on the "division" (aka plant) level.

Hopefully that makes some sort of sense and someone that actually knows
what I'm talking about can decipher it.

Ken

[Non-text portions of this message have been removed]



[Non-text portions of this message have been removed]