Subsidiaries

Subsidiaries are organisations added under a headquarters in the multi-company console. You can view and manage all subsidiary details from here.

The organisation where you first enable Multi-Company Management becomes the Headquarters. All organisations added under it are Subsidiaries.

Add Subsidiary

Once you enable Multi-Company Management, you can add organisations as subsidiaries. You can assign a parent subsidiary to each and build a hierarchy of up to three levels.

Note:

You can only add an organisation as a subsidiary if you are an admin in that organisation.
You cannot add an organisation as a subsidiary if Multi-Company Management is enabled in that organisation.

To add a subsidiary:

Go to the Multi-Company Console.
Select Subsidiaries in the left sidebar.
Click Add Subsidiary in the top right corner.
In the pop-up, select the Organisation to add.
Select the Parent Subsidiary.
Click Add.

Fetch Subsidiary Data

Fetching subsidiary data retrieves the latest financial data from your subsidiaries, including all transactions and journal entries, up to a selected month.

To fetch Subsidiary data:

Go to the Multi-Company Console.
Click Fetch Subsidiary Data.
Select the month up to which you want to fetch data.
Click Fetch Data.

All subsidiary data is fetched up to the selected month.

Note: Ensure all transactions in subsidiaries are locked up to the selected month before fetching data.

Account Sync

When you add a subsidiary, its chart of accounts is automatically synced to the multi-company console based on account codes.

While syncing, the status Account Sync In Progress appears next to the subsidiary name.

Account Sync Errors

Errors must be resolved before the sync can continue. If an error occurs, the status displays as Account sync failed due to errors.

Click the status to view the error details and the number of accounts affected.

Possible errors:

Account code is missing: The account in the subsidiary does not have an account code.
Account code exists with a different account type: The same account code is used for a different account type in the multi-company console.
Parent account is not synced: The parent account has not been synced to the multi-company console.

Account Sync Warnings

Warnings do not stop the sync, but may cause data inconsistencies. If only warnings are present, the status displays as Account sync completed with warnings.

Click the status to view the warning details and the number of accounts affected.

Possible warnings:

Parent account does not exist in the Multi-Company Console: The parent account for this account has not been added to the multi-company console.
Parent account does not exist in the Subsidiary: The parent account for this account has not been added in the subsidiary.
Account name exists with a different account code: The same account name is used with a different account code in the multi-company console.
Parent account exists with a different account code: The parent account exists in the multi-company console but with a different account code.

Click Resolve. You will be redirected to the Chart of Accounts of the subsidiary organisation. Accounts with Sync Issues will be listed and you can edit the account codes of the accounts to resolve the issues.

Refresh Subsidiaries

To refresh the account sync status:

Go to the Multi-Company Console.
Select Subsidiaries in the left sidebar.
Click the More icon at the top right corner.
Click Refresh.

Elimination Subsidiaries

In addition to the subsidiaries you add, an Elimination Subsidiary is automatically created for each parent in the hierarchy. It is a virtual subsidiary used to record elimination entries that remove intercompany balances from your consolidated reports.