Odoo Help

1

multicompany accounting

By
Samer Al-Sarhan
on 6/10/16, 10:12 AM 5,964 views

Greeting All,

I am working on project for my company and multi company is part of the project after I configure all the companies now i need to generate a Consolidating financial accounting report (balance Sheet and Profit & Loss) report dose any one has an idea how to achive that.

Which version? If v9, which edition?

Bista Solutions US, Ray Carnes
on 9/16/16, 1:26 PM
0
Kinner Vachhani
On 5/30/17, 4:59 AM

The consolidated COA, would it work for multi currency multi company? 


0
Alexander
On 5/29/17, 4:58 AM

Hi Michel, I fully agree …! and would like to understand the best approach to multi-company consolidation in Odoo. So I have following questions;


  • Is there a tool / process to assist and make it easy to do inter-company elimination of internal-invoices?

  • Does it make sense to create a “Consolidation Company” for consolidation entries as eliminations, PUP, etc. and “Group Reporting”.

  • Is there a way to define “consolidation accounts” which can be used to roll-up different accounts from group companies into a group reporting chart of accounts (in v10)?


Hints and pointers to best practice would be greatly appreciated!


(Note, I am not sure if you would want to use the Group Parent as the Consolidating Company, this is because the Parent must also provide it own legal reports and also because you would need to make some adjusting entries to reflect the Consolidated Accounts.)


Thanks!

Alexander

0
Mhmd Fares
On 5/14/17, 8:03 AM

here is the method

1-you must create a chart of accounts for the parent company.

2-change the type of accounts to consolidation, a new field will appear which is consolidated children.

3-fill the new field with the child accounts (which will be consolidated in the parent account) from the child companies.

4- after saving all the work with all the accounts, you can check the parent company COA, and you will find the data consolidated into every account with values.

0
michel Guénard
On 9/16/16, 1:43 PM

The consolidated set of account is meant to report the financial statement of the group of companies as if there is one single company that makes businesses with the rest of the world

May I recommend you to study the consolidation accounting process (or be helped by an accountant); because the consolidaton is not a trivial process:

for instance

all intercompany transactions and intercompany margins need to be eliminated ( keeping only the transactions with the "outside world")

a common currency (and conversion rates) need to be decided for the consolidation of the group companies' operations; so that each company records its operations in the common group currency in addition to the local records kept in local currency. Only the operations recorded in the group currency will be elected for the consolidation

a common chart of account for all companies

you also have to take into consideration the % of capital that the parent company holds into each other companies (not to speak from capital holdings between the daughters companies themselves); 


In summary: the consolidation is not the addition of the transactions of all companies belonging to the same group

About This Community

This platform is for beginners and experts willing to share their Odoo knowledge. It's not a forum to discuss ideas, but a knowledge base of questions and their answers.

Register

Odoo Training Center

Access to our E-learning platform and experience all Odoo Apps through learning videos, exercises and Quizz.

Test it now

Question tools

6 follower(s)

Stats

Asked: 6/10/16, 10:12 AM
Seen: 5964 times
Last updated: 5/30/17, 4:59 AM