Defining Company - IRS Software

Defining Company

Setting > Company

  1. The unique point of IRS Business Suite is that one client able to manage the accounting profiles for multiple companies.
  2. All Financial records for that particular company will be recorded separately but in the same cloud database.
  3. After creating a company profile, the user(s) still need to set up additional, company-specific information, such as customers, vendors, staffs, inventory, accounts, and historical data.
  4. User(s) are allowed to configure their Company by using different setup options.

To Add New Company

  1. 1. Choose Settings > Company.
  2. 2. Click Add.
  3. 3. Enter your company information by following Step1 to 6 of Company Wizard as shown below. (Yellow fields are mandatory).
  4. 4. The table below explains the function of every field required in Company Wizard.
  5. 5. Click Save or Save & New to continue to create more companies.

In Step 4 and Step 5, there are 3 setup options for New Company. User(s) are asked to choose one of the setup options for the company. The table below explains the difference between each setup option.

  1. 1. Quick Setup
  2. 2. Standard Setup

Quick Setup

A quick Setup is a setup option based on existing company setting. In this setup method, the user (s) are asked to select a reference company. Then, the system will auto-configure all the general configuration settings (e.g. Currency, Account Determination, Payment Term, Tax Code, Payment Mode and Chart of Account) to be the same as Reference Company. This is recommended for most users.

  1. 1. Reference Company – Select a Reference Company for this new company.
  2. 2. Associated Vendor Group – Select an existing Vendor Group or create a new one.
  3. 3. Associated Customer Group – Select an existing Customer Group or create a new one.
  4. 4. Associated Item Group – Select an existing Item Group or create a new one.

Standard Setup

A standard Setup is a setup option based on Business Nature. In this setup method, we have two preset business nature templates, e.g. POS and F&B. User(s) are asked to select a business nature that first the new company. Then, the system will auto-configure all the general configuration settings (e.g. Currency, Account Determination, Payment Term, Tax Code, Payment Mode and Chart of Account) to be the same as the preset template. This is recommended for most users.

  1. 1. Business Nature – Select a Business Nature for this new company.
  2. 2. Associated Vendor Group – Select an existing Vendor Group or create a new one.
  3. 3. Associated Customer Group – Select an existing Customer Group or create a new one.
  4. 4. Associated Item Group – Select an existing Item Group or create a new one.

Press finish to complete.

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