Best Practice - Multiple companies

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Bev Edwards
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    We have a director who made the decision to create multiple companies so that she could report on transactions per company.

    The ED40 records were not set up correctly to capture the additional companies and as a result, the 810 records were not parsed out, leaving Finance to manually enter in the other company invoices.

     

    Now, they are asking if they should move back to one company since all of the po's under each company are charged back to one bank account number.

     

    What is the reason for multiple companies in the first place?

    What would the best practice be for them since all PO's are charged back to the same bank account?

     

    JonA
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    Posts: 1162
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      We build separate companies for financial reporting. All activity for our 7 medical centers, physician's practices, and home care fall under one company. But we built separate companies for joint ventures and our insurance provider which need separate financial statements.
      Jon Athey - Sr. Supply Chain Analyst - Materials Management - MyMichigan Health
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