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Consolidated accounting

By
Jos De Graeve
on 7/11/14, 8:15 AM 1,655 views

Hello,

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 ?

Regards,

Jos

1

Kevin McMenamin

--Kevin McMenamin--
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Auckland, New Zealand
--Kevin McMenamin--
Kevin McMenamin
On 7/11/14, 5:49 PM

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: 1655 times
Last updated: 3/16/15, 8:10 AM