Company Fields

Here is a description of the fields that make up a company record.

Key: * – Mandatory field; R – Read-only in all contexts; The number indicates the number of characters that are allowed in this text field, where appropriate.

Field			Description
Allocated Ownership	R		Total percentage ownership allocated for this company. Cannot be more than 100%, but can be less.
Elimination Company			Indicates that this company is an elimination companyA special type of company used when recording intercompany eliminations.. You cannot select (or clear) this checkbox once transactions exist for this company.
Intercompany Account			Lookup to the intercompany account that you want to use in intercompany transactions. See About Intercompany Accounts for more information.
Local Chart of Accounts Structure			Lookup to the local chart of accounts structure this company uses (if your org is set up to allow financial reporting to different statutory bodies). For example, if this company is French, you may have a local chart of accounts structure set up called "Le Plan Comptable". Only active chart of accounts structures are available and a company can only have one active local chart of accounts structure. You cannot change the local chart of accounts structure set on a company if transactions have already been created using the current value. See What is a Chart of Accounts Structure? for more information.
Logo	R		Preview of the selected company logo.
Logo URL			Full URL to the location of the logo image stored in the FinancialForce Documents Folder. A preview of the selected logo is displayed.
Name	*	80	Name of the company and primary key.
Org-Wide Effective Date	R		Date org-wide exchange rates apply from. Any org-wide exchange rates you create for this company are effective from this date onwards. For internal use only. Note: If you use Foundations exchange rate groups this field is not needed on your company page layout.
Record Type	R		Record type for this company. The record type should be set according to the tax regime in which this company will operate. You must not change the record type once tax amounts have been posted in the company. If your tax regime changes, you will need to migrate your data to a new company. Contact FinancialForce Customer Support for advice.
Use Org-Wide Exchange Rates			Indicates that you want this company to use org-wide exchange rates, as opposed to company-specific exchange rates. This is referred to as the company's exchange rate mode. If you want to change the exchange rate mode after company activation, you must use the Change Exchange Rate Mode button on the company detail page. See About Exchange Rates for more information. Note: If you use Foundations exchange rates, this field is not needed on your company page layout.

Optional Fields

Field	Description
Disable Opportunity Recurring Invoices	Indicates that you want to disable the recurring invoiceA special type of sales invoice that you enter only once but that causes several similar sales invoices to be generated automatically. Recurring invoices are typically used to request payment for regular bills, such as an annual maintenance agreement invoiced monthly. Alternatively you can use them to create invoices for scheduled monthly deliveries of products. functionality for this company when a sales invoice is created from an opportunity. If you want to disable this functionality, you must add this field to your company page layout and then select it.
Exchange Rate Group	Lookup to the exchange rate group that you want to use to specify the currency exchange rates for the company. If you want to use Foundations exchange rates, you must add this field to your company page layout. Note: The Exchange Rate Group field is listed as an Optional Step. While this field is only applicable when the Foundations Exchange Rates Integration feature is enabled, once the feature is on this field becomes mandatory. Users will not be able to save a new company record without selecting an Exchange Rate Group.

Field

Description

Disable Opportunity Recurring Invoices

Indicates that you want to disable the recurring invoice

A special type of sales invoice that you enter only once but that causes several similar sales invoices to be generated automatically. Recurring invoices are typically used to request payment for regular bills, such as an annual maintenance agreement invoiced monthly. Alternatively you can use them to create invoices for scheduled monthly deliveries of products. functionality for this company when a sales invoice is created from an opportunity. If you want to disable this functionality, you must add this field to your company page layout and then select it.

Exchange Rate Group

Lookup to the exchange rate group that you want to use to specify the currency exchange rates for the company. If you want to use Foundations exchange rates, you must add this field to your company page layout.

Note:

The Exchange Rate Group field is listed as an Optional Step. While this field is only applicable when the Foundations Exchange Rates Integration feature is enabled, once the feature is on this field becomes mandatory. Users will not be able to save a new company record without selecting an Exchange Rate Group.

Address Information

Key: The number indicates the number of characters that are allowed in this text field, where appropriate.

Field		Description
City	40	City portion of company address.
Contact Email	255	Email address of the company contact. Must be a valid email address in the form: jsmith@acme.com.
Country	40	Country portion of company address.
Fax	20	Fax number.
Phone	20	Primary phone number for the company. See "Entering Phone Numbers" in the Salesforce Help for more information.
State/Province	20	State or province portion of company address
Street	255	Street address of the company.
Website	255	URI of company website.
Zip/Postal Code	20	Zip or postal code portion of company address.

External Tax Calculation

These fields are included in the relevant tax section depending on the company's record type (VAT, GST, Combined or SUT).

Key: The number indicates the number of characters that are allowed in this text field, where appropriate.

Field			Description
External Tax Company Code		50	If your org and this company are enabled for external tax calculation, you must enter the code that identifies this company in the external tax calculation system.
External Tax Calculation			Set to Enabled if you want to configure this company for external tax calculation. You must also complete the setup described in Setting up External Tax Calculation.

Sales Tax Information

These fields are relevant when the record type is "SUT".

Key: * – Mandatory field
The number indicates the number of characters that are allowed in this text field, where appropriate.

Field			Description
Tax Code			If set, the selected default tax code is applied to each new account created in this company.
Taxpayer Identification Number		20	Federal tax ID number or Employer Identification Number. There is no format validation on this field.

VAT/GST Information

These fields are relevant when the record type is "VAT", "GST" or "Combined".

Key: * – Mandatory field; R – Read-only in all contexts; The number indicates the number of characters that are allowed in this text field, where appropriate.

Field			Description
Avalara VAT Reporting Start Date	R		Note: Only applies if the record type is "VAT" and the Avalara VAT Reporting integration is enabled. Date when this company started sending transaction data to Avalara VAT Reporting using the integration. Any transactions that occurred before this date were not automatically sent to Avalara VAT Reporting.
Enable Place of Supply Rules			Indicates that you want this company to use the place of supply and reverse charge tax functionality on payable invoices and payable credit notes. Defaults to unchecked. If this is not checked on a company, you can still enter reverse charge values on a payable document by selecting Enable Reverse Charge on the document header.
Tax Code			If set, the selected default tax code is applied to each new account created in this company.
Tax Country Code	*		Code for the European Union country in which this company operates. You can update the entries in this custom picklist. If you want to specify Greece in this field, note that for the purpose of EU VAT, the correct country code for Greece is "GR". In other situations, you may select the ISO-3166 code "EL" instead. The country code does not control tax calculations. It is required for the correct reporting of VAT on cross-border trades within the EU. For non-EU countries, it can be used as a memo field.
Tax Registration Number	*	20	Identifying number used for tax purposes. There is no format validation on this field.
VAT/GST Group			Indicates that this company is part of a VAT/GST group. The value of this checkbox is used when deciding where to get the default tax code to use on a sales or payable invoice or credit note. See About Tax for more information.

Default Information

The following bank account, currency and year end defaults can be set for this company.

Key: * – Mandatory field

Field		Description
Bank Account		Company bank account to use as a default when creating a new cash entry or bank statement. You must select a bank account that belongs to this company.
Cash Matching Currency Mode	*	Currency mode to use as a default when matching cash. Must be set to either "Account" or "Document". This custom picklist must remain fixed. Do not add or amend its values. See About Cash Matching for more information on the effect of this setting.
Retained Earnings GLA		The general ledger account to use as a default retained earnings account during the year end process. You can amend this default at year level. The selected GLA must be of type "Retained Earnings".
Suspense GLA		The general ledger account to use as a default suspense account during the year end process. There are no residual values in this account when the year end process completes. You can amend this default at year level. The selected GLA must be of a type other than "Retained Earnings".
Year End Mode		The default processing mode for the year end process. "Full Accounting Code" or "GLA Only". This mode controls the detail and size of the resulting year end journal line items. The default value is "Full Accounting Code".

Note: Note

You cannot specify the default bank account when setting up a new company – the company bank account records do not exist yet. You can return to this field once the company has been activated and its bank accounts assigned.

Accounts Receivable Analysis

The following accounts receivable defaults can be set for this company.

Field		Description
Currency Write-off		Default general ledger account updated when a user posts a currency write-offGenerated when there is a difference in the exchange rate between the date of the invoice and the date of the payment. The invoice and the payment are each converted from the document currency to account, home, and dual currency on the date they are created. Differences are posted to a currency write-off account. to a customer's accountIn this context, accounts are organizations or people that you conduct business with, such as customers or vendors. Account is a standard Salesforce object. FinancialForce accounts can be any Account Record Type..
Settlement Discount		Default general ledger account updated when a user posts a settlement discountA discount agreed with the purchaser for payment within an agreed period of time. The value of the discount is posted to a settlement discount account. to a customer's account.
Write-off		Default general ledger account updated when a user posts a write-offAn outstanding, but usually small, amount of money not collected from a customer, typically as a result of a small variance between the cash submitted and the value of the documents matched to it. Differences are posted to a write-off account. to a customer's account.
Dimension 1 to 4		Up to four default analysis dimensionsCustom objects that allow you to analyze the activity in your business in additional ways, such as by cost center, project, employee, or any other business entity important to you. related to each of the default general ledger accounts.

None of the specified general ledger accounts can be of type "Retained Earnings", but the same general ledger account can be specified more than once.

Credit Terms

From Fall 2019, credit terms are held in Foundations and are editable via a related list. Contact your Administrator if the Credit Terms related list is not available.

See How FinancialForce Accounting uses Credit Terms for an example of how credit terms are applied.

Note: Note

If credit terms are defined on the customer account they will override the standard terms defined on the company.

If you specify an offset or a discount, you must provide an equivalent base date.

Field	Description
Base Date (1–4)	The base date used to calculate the credit terms.
Days Offset (1-4)	The number of days past the base date for the described credit terms during which the stated discount will be deducted from payments.
Description (1-4)	A free text field used to describe up to four sets of credit terms.
Discount (1-4)	The percentage discount to be deducted if payment is made within these terms.

Audit File

These fields are relevant when you have Localization enabled. For more information, see Using Localization.

Field Label		Description
Period From		Lookup to return transactions from a specific date.
Period To		Lookup to return transactions to a specific date.
Year		Lookup to specify which year to return transactions for.

Buttons

Button	Description
Activate	Activates the company, and creates a corresponding company queueA location within the underlying Salesforce platform used to represent a company. When you activate a new company, a corresponding company queue is created. to represent and "own" that company. This is an essential step you must perform before using the company. When you click Activate on a new company record, you must enter a unique and meaningful queue name (using no more than 37 characters).
Change Exchange Rate Mode	Changes the company's exchange rate mode (company-specific or org-wide exchange rates). You will be prompted to specify the date you want the exchange rates to apply from (the default is today's date). You must use this button after the company has been activated. You cannot edit the checkbox on the company detail page directly after the company has been activated.
Validate Address	Validates the company's address to see if it is recognized by the US Postal Service (typically only US and Canadian addresses are recognized). This button is only available if the organization is enabled for external tax calculation and this company's record type is SUT. See Validating Addresses for External Tax Calculation for more information. The Address Validated checkbox is selected if the current address has been validated. This checkbox is read only.
Generate File	Generates the audit file required for localization purposes. Note: Only when you have Localization enabled. For more information, see Using Localization.

Note: Note

When you click Activate for the first company record in a single-currency organization

An organization that is not enabled for multiple currencies. If you are unsure, contact your Salesforce administrator., you must enter the ISO code for the company's working currency. When you click OK, the application automatically creates a single, predefined accounting currency

The currency in which your company does business. A company can have more than one accounting currency. record and associates it with the new company. All subsequent companies created within this organization automatically inherit this accounting currency.