Companies Overview

Companies are defined by the use of federal tax IDs. This is true of companies, whether your organization uses Standard Setup or Simplified Setup. Reports produced by a company are used for reporting to governmental agencies, such as the Internal Revenue Service.

In addition, if your organization uses Standard Setup, use of federal tax IDs also distinguishes companies from entities. A company is used to group entities together by common owner, partnership, regions, or other similarities.

Also, if your organization uses Simplified Setup, then a company is considered a set of accounts applied to a single organization. A company can be composed of one person, an unincorporated business with an owner and a few employees, a partnership, a corporation, or a non-profit organization.

Note

Depending on the applications purchased by your company, company-related tabs can display from either eFinancials or ePO menus.

Setup Details

Setting up companies is required whether your system uses Standard Setup or Simplified Setup. If your system was set up using the Standard Setup method, companies must be available for selection when setting up entities. There are no prerequisites to setting up companies.

Setup Questions

Standard Setup

Setup Questions General Tab

Setup Questions 1099 Payer

Setup Questions General Tab

Setup Questions Accounts Tab

Setup Questions Address Tab

Setup Questions Groups Tab

Setup Questions Banks Tab

Setup Questions 1099 Tab

Setup Questions Default Budget Tab

Setup Questions Consolidated Tab

Simplified Setup

Setup Companies Grid