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Let's say a company ( i.e. the legal entity ) has multiple divisions. The company would like to have a separate chart of account for each division, in order to have a clear view on costs and benefets of each division. For legal purposes there is still the chart of accounts of the legal company.
In odoo it's fairly easy to configure a subcompany for each division, and to give subcompany/division its own COA. Is it however possible to have a consolidated accounting for the parent company to fulfill the legal requirements ? Can the tax declarations be sent from the accounting of the parent company ?
I know odoo account supports consolidated accounts, but i want to know if this would work out well in this case ?
Or is it allowed in Belgium to send multiple VAT declarations one for each division ?
I can't comment on Belgian tax laws, but from an operational accounting perspective the is flexibility to build whatever you want. My suggestion for a multi-company situuation is that the parent entity is non-trading and it's chart of accounts is set up as consolidation accounts linked to the child accounts. That way the reports at the group level accurately reflect the consolidated results.
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|Asked: 7/11/14, 8:15 AM|
|Seen: 2014 times|
|Last updated: 3/16/15, 8:10 AM|