We have 3 companies within 1 database (these are truly just divisions; however, for scheduling purposes, they are run separately).
From an accounting standpoint, our 2 sister companies are set up as divisions within our primary company (that's how they started out until training could take place at the individual locations, also, in case, for example, a freight bill needs to be split among the divisions). All the accounting is done from the primary company (we enter A/P invoices depending upon which "company" it belongs to). As a result, I have 3 separate A/P and A/R agings - sort of a pain, but manageable. At month-end, I run the 3 WIP Capture/Post routines. Then, my last entry is to move any balance sheet & income statement balances from the primary company's G/L to respective sister company's G/L.
As far as setting a new company up, yes, it takes a while as I am not aware of an easy way to copy all of your G/L accounts, workcenters, etc., etc., but once set up, I feel I have a process in place to handle the intercompany shipments/receipts, eliminations of them, etc.
If you are interested, let me know.
Thanks!
Rick Ludwig
V.P. of Finance & Administration
Metal Spinners, Inc.
-----Original Message-----
From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf Of Ed Fox
Sent: Tuesday, May 09, 2006 9:59 AM
To: vantage@yahoogroups.com
Subject: RE: [Vantage] Re: Starting Another Company Using Vantage
I have also considered that as well.
-----Original Message-----
From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf Of Joanne Yargeau
Sent: Tuesday, May 09, 2006 9:49 AM
To: vantage@yahoogroups.com
Subject: [Vantage] Re: Starting Another Company Using Vantage
We did this, but we didnot setup new companies in Vantage. We did not have the multi company module, nor did our company want to purchase it. We had two different companies that shared resources, people and material. What we did was setup different divisions and then setup financials for those divisions that were actually different companies. This worked for us.
From an accounting standpoint, our 2 sister companies are set up as divisions within our primary company (that's how they started out until training could take place at the individual locations, also, in case, for example, a freight bill needs to be split among the divisions). All the accounting is done from the primary company (we enter A/P invoices depending upon which "company" it belongs to). As a result, I have 3 separate A/P and A/R agings - sort of a pain, but manageable. At month-end, I run the 3 WIP Capture/Post routines. Then, my last entry is to move any balance sheet & income statement balances from the primary company's G/L to respective sister company's G/L.
As far as setting a new company up, yes, it takes a while as I am not aware of an easy way to copy all of your G/L accounts, workcenters, etc., etc., but once set up, I feel I have a process in place to handle the intercompany shipments/receipts, eliminations of them, etc.
If you are interested, let me know.
Thanks!
Rick Ludwig
V.P. of Finance & Administration
Metal Spinners, Inc.
-----Original Message-----
From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf Of Ed Fox
Sent: Tuesday, May 09, 2006 9:59 AM
To: vantage@yahoogroups.com
Subject: RE: [Vantage] Re: Starting Another Company Using Vantage
I have also considered that as well.
-----Original Message-----
From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf Of Joanne Yargeau
Sent: Tuesday, May 09, 2006 9:49 AM
To: vantage@yahoogroups.com
Subject: [Vantage] Re: Starting Another Company Using Vantage
We did this, but we didnot setup new companies in Vantage. We did not have the multi company module, nor did our company want to purchase it. We had two different companies that shared resources, people and material. What we did was setup different divisions and then setup financials for those divisions that were actually different companies. This worked for us.
--- In vantage@yahoogroups.com, "dhieber" <dhieber@...> wrote:
>
> Okay, I posted this message last week but I did not receive
responses. So I
> am going to try again.
>
>
>
> Okay I was just notified I need to set up another company in
Vantage.
> (within the next 2 weeks) They are going to have everything
separate from
> the main company. Is there anything special I need to know?
(Version 5.2).
> How many of you are running to separate companies in Vantage? Any
problems?
>
>
>
>
>
>
>
>
>
> Have a Nice Day,
>
>
>
> Dina Hieber
>
> Vamco International, Inc.
>
> Phone (412) 963-7100
>
> Fax; (412) 963-7160
>
>
>
> www.vamcointernational.com
>
>
>
>
>
> [Non-text portions of this message have been removed]
>
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Yahoo! Groups Links
Useful links for the Yahoo!Groups Vantage Board are: ( Note: You must have already linked your email address to a yahoo id to enable access. )
(1) To access the Files Section of our Yahoo!Group for Report Builder and Crystal Reports and other 'goodies', please goto: http://groups.yahoo.com/group/vantage/files/.
(2) To search through old msg's goto: http://groups.yahoo.com/group/vantage/messages
(3) To view links to Vendors that provide Vantage services goto: http://groups.yahoo.com/group/vantage/links
Yahoo! Groups Links