Introduction
Company Setup is a feature in Empress that allows you to create and manage multiple companies within your business. This feature is crucial for businesses with multiple departments, subsidiaries, or franchises, as it allows for efficient management and organization of each entity.
In this guide, we’ll walk you through the process of creating and managing a company in Empress.
Creating a New Company
- To create a new company, navigate to: Home > Accounting > Company.
- Click on New to open the company creation form.
- Fill in the necessary details such as the company name, abbreviation, and default currency.
- Click Save to create your company.
The abbreviation for your company is automatically generated and helps differentiate one company from another, appearing in various accounts, cost centers, tax templates, warehouses, etc. You can also attach a company logo and add a description.
Multi-Company Structures
If you operate a group of companies, you can set up multiple companies in Empress. These can be organized as parallel entities (sister companies), or as parent-child companies.
- Parent Company: A larger organization that consists of one or more subsidiaries (child companies).
- Child Company: A subsidiary of a parent company.
These relationships are visualized in Empress using a company tree view.
Other Settings When Creating a Company
When creating a company, you can also configure the following:
- Domain: The specific industry or sector your company operates in.
- Is Group: If checked, the company becomes a parent company.
- Parent Company: If the company is a subsidiary, you can select its parent company from this field.
Managing Company Information
Empress allows you to manage a variety of information about your company:
- Monthly Sales Target: Set a sales target for each month in your company’s default currency.
- Account Settings: Set default accounts for various transactions. These can be viewed in the Chart of Accounts and edited as needed.
- Stock Settings: Manage the impact of stock transactions on your company’s accounts.
- Fixed Asset Defaults: Set up the necessary accounts for managing fixed assets.
- Company Info: Save your company’s contact details, address, and registration details for future reference.
Deleting Company Transactions
You can also delete all transactions related to a company. Note that this action cannot be undone and should be used with caution. To delete transactions, you must be a System Manager and the creator of the company.
- Click on the Delete Transactions button under Manage.
- Verify your password.
- Enter the company’s name for confirmation.
Changing Parent Company
If you need to change the parent company of an existing company, simply select the new parent company from the list in the Parent Company field and save your changes.
Conclusion
The Company Setup feature in Empress offers a robust and comprehensive way to manage multiple companies within your business. By creating and managing companies in Empress, you can streamline your business operations and improve organization and efficiency. For further assistance or information, please refer to the Empress support resources or contact our support team.