Multi Company Environments

xAssets supports multi-company environments where each company has its own accounting periods, nominal codes, and depreciation schedules. This page explains how companies are configured and how they interact with the financial setup. If your organisation operates a single company, you can skip this page — a single default company is sufficient.

Prerequisites

• You must be in the Fixed Asset Management profile (see Fixed Asset Management Profile).
• You should have your corporate structure available — which legal entities need separate accounting treatment.

When to Use Multiple Companies

Set up multiple companies when:

• Your organisation has multiple legal entities that report separately
• Different parts of the organisation use different financial year-ends
• Different parts of the organisation use different charts of accounts (nominal codes)
• Regulatory requirements mandate separate asset registers per entity
• You need consolidated reporting across a group of companies

Managing Companies

Access company records from Classification > Companies and Sets of Companies:

Key Configuration Points

Accounting Period Sets

Each company is assigned to an accounting period set, which determines its financial year structure (see Accounting Periods).

• Companies with the same year-end can share an accounting period set.
• Companies with different year-ends must have separate accounting period sets.

Warning: All companies sharing the same accounting period set are depreciated together during period-end processing. If a company needs to be depreciated on a different schedule (e.g. different month-end dates), assign it to a separate accounting period set.

Nominal Code Groups

Each company can have its own set of nominal codes, or share a set with other companies:

The nominal code group determines which accounts are used when producing journals. If companies share a group, they produce journals with the same account references. If they have separate groups, each company's journals use its own account references.

See Nominal Codes for details on managing nominal codes and groups.

Sets of Companies

Companies can be grouped into sets for consolidated reporting. A set of companies reflects your corporate reporting structure — for example:

• Group (set) containing Company A, Company B, and Company C
• Regional (set) containing EMEA and Americas company subsets

Sets of companies allow you to run reports across a group without manually selecting each company.

Setting Up a New Company

To add a new company:

1. Navigate to Classification > Companies and Sets of Companies.
2. Click New to create a new company record.
3. Enter the company name and code.
4. Assign the company to an accounting period set — select an existing set if the company shares the same year-end as another company, or create a new set if it has a different year-end.
5. Assign the company to a nominal code group — select an existing group to share nominal codes, or create a new group for a separate chart of accounts.
6. Click Save.

After creating the company:

1. Ensure the accounting period set has the correct periods defined.
2. Review the nominal codes in the assigned group.
3. Assign assets to the new company as needed.

Depreciation Scheduling

Period-end processing (see The Monthly Accounting Process) works at the accounting period set level. When you click Calculate:

• All companies in the selected accounting period set are depreciated together.
• If you have companies in different accounting period sets, you run period-end processing separately for each set.

Tip: If most of your companies share the same year-end, put them in one accounting period set. Only create separate sets for companies with genuinely different period structures.

Inter-Company Transfers

When an asset is transferred from one company to another, the system can create transfer transactions in both the originating and receiving company. This ensures both companies' books reflect the movement accurately.

Transfer transactions typically include:

• A transfer-out in the originating company (reducing its asset base)
• A transfer-in in the receiving company (adding to its asset base)
• Appropriate nominal code entries for inter-company accounting

Related Articles

• Accounting Periods — Defining period structures for each company set
• Nominal Codes — Managing account references per company
• The Monthly Accounting Process — Running depreciation by company set
• Budgets — Per-company budget management