Creating finance books

This page allows you to create a finance book for a company. Tell me more.

Select the “Create Finance Book” link under the “Organization Setup” business component.

The “Create Finance Book” page appears.

Enter the following field:

Company Code

Use the drop-down list box to select the code identifying the company for which you want to create a finance book. All the companies that have been created for the installation and that are in the “Active” status will be available for selection in the ascending order.

The system displays the following:

Company Name

The name identifying the company.

Enter the following fields in the “Finance Book Details” multiline:

Finance Book

A unique code identifying the finance book (Alphanumeric, 20). Mandatory.

Finance Book Description

The textual description of the finance book (Alphanumeric, 128). Mandatory.

Book Type

Use the drop-down list box to set the type of the finance book that is being created. You can select from “Main FB”, “Posting FB” and “Consolidation FB”.

Main FB – indicates the finance book in which the details of the multiple posting finance books are consolidated. It is mandatory for a company to have one “Main” finance book
Posting FB – indicates the finance book in which financial transaction postings are made. A company can have multiple posting finance books but it is mandatory to have at least one “Posting finance book.
Consolidation FB – indicates a finance book in which the financial transactions of all the “Main” finance books of the child companies are consolidated. It is mandatory for a group company to have one “Consolidation” finance book.

The system displays “Posting FB” by default at the launch of the page.

Note: If “Consolidation FB” is selected the company must be the parent company for at least one child company.

Address ID

The address ID associated with the finance book of the company.

Help facility available

Deployed At

Use the drop-down list box to select the organization unit in which you want the finance book to be deployed. All the organization units that have been mapped to the login organization unit and in which the “Finance Book Processing” business component has been deployed will be available for selection in the alphabetical order.

Effective Date

The date from which the finance book is in use (Date Format). Mandatory. The date entered in this field must be after the date on which the company was registered. The date entered in this field can be before the system date.

Note: The date entered in this field must be a start date of a valid “Financial Period” if the “Financial Calendar” has been defined for the company.

Check the box in the “Select” column of the multiline to mark a finance book for deletion.
Click the “Create Finance Book” pushbutton to create the finance books.

The system saves the details of the finance book along with the deployment details in the finance book entity.

If “Tax Book Applicability” is set to “Yes” in the “Company Process Parameter” activity the system will automatically create a tax book having the same ID and details of the newly created finance book. The details of the tax book will be updated in the tax book entity.

To proceed, carry out the following

Select the "Attach Notes" link at the bottom of the page to record your observations.

What you can do in this page

Set finance book type

You can set the type of finance book that you want to create. You can create a “Main Finance Book”, “Posting Finance Book” or a “Consolidation Finance Book”.

Set the “Book type” field as “Main FB” to create a “Main” finance book.
Set the “Book Type” field as “Posting FB” to create a “Posting” finance book.
Set the “Book Type” field as “Consolidation FB” to create a “Consolidation” finance book.