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Topic

    Subhash Valiveti
    Corporate Books by Business Unit
    Topic posted January 29, 2018 by Subhash ValivetiGold Medal: 3,500+ Points, last edited January 30, 2019, tagged Assets, Financials, Payables 
    129 Views, 10 Comments
    Title:
    Corporate Books by Business Unit
    Summary:
    Received a requirement to define Asset Corporate Books by Business Units
    Content:

    Hi,

    We have received a requirement where we need Asset Corporate Books by Business Units.

    We have suggested the client to that the onus of assigning the Corporate Book will be on the Payables team to assign them.

    But that option has a limitation where there can be a human error. So, wanted to identify if there are any better options.

    Any ideas are welcome!!!

    Regards,

    Subhash

    Comment

     

    • Rohan Kamat

      Are these Corp books intended to be assigned to different Ledger's or do  they need many Books linked to one Ledger having multiple business units ?

    • Rohan Kamat

      Ok. Just for understanding , why do they need different corp books ? , Have seen people using one corp book and many tax books 

      If its just asset classification purpose , they can use some other workaround such as using Asset key to include the Business unit or have any DFF at Asset level . 

       

      Thanks

      Rohan

       

      • Subhash Valiveti

        Hi Rohan,

        The 3 business units have separate business processes and they track the assets separately. They also have a requirement to secure the access to these Corp books by BU. This cannot be achieved by Asset Keys or DFF.

        Regards,

        Subhash

         

    • Rohan Kamat

      Hi Subhash 

      I don't believe there would be a straight-forward solution for this .

      You would have to populate the Corp Book based on the Payables BU selected during Invoice creation via some customization 

      Thanks

      Rohan

       

       

       

      • Subhash Valiveti

        Thanks Rohan. I am looking for options here. If customization is the only option, what type of customization is supported in Cloud to support this requirement?

        Regards,

        Subhash

    • Soumya Parhi

      Hi ,

      I would suggest we can always ask them to go for Single Corporate Book and use the Asset Key to separate them as BU wise. Unless there is any significant financial difference between these assets. Alternatively one can think for a 3 Segment Asset Category that includes BU , Major & Minor. This way they will be able to track different financials for the same asset in three category.

      Warmest Regards,

      Soumya

      • Subhash Valiveti

        Thank you Soumya. We have security/access requirements. We think, by going with separate books, we can control the access by asset book.

    • Srikanth Kura

      Hi Subhash,

      I think you can try defining a separate set of clearing accounts to identify the Corp book defined for business unit.

       

      Thanks,

      Srikanth

      • Subhash Valiveti

        Hi Srikanth,

        Thank you for the suggestion. We have already gone with separate clearing accounts by asset book. It seems like the security does not restrict the Payables user from picking the wrong book.

        Regards,

        Subhash