Managing finances across multiple companies can be a complex task, but Deltek’s Costpoint offers a range of options to streamline this process. Whether your organization operates on a global scale with different functional currencies or you’re looking to maintain a unique setup for each entity, Costpoint’s multi-company features are designed to cater to your specific needs.
Option A: Multi-Company Single Database Environment This setup allows for multiple organizations within a single company to represent separate taxable entities or geographical locations. It’s an ideal structure if the companies share a common functional currency, enabling a unified approach to financial management.
Option B: Multi-Company Separate Database Environments For organizations that require unique setups for each company, including different functional currencies, this option provides the autonomy needed. Each company is set up as a separate entity with its own database, allowing for distinct control settings and financial management.
Option C: Multiple Databases with Autonomous Functionalities When complete autonomy is required, multiple databases can be utilized. This includes separate charts of accounts, organization structures, functional currencies, and fiscal years. It ensures that each company operates independently but under the umbrella of the larger organization.
Global Tables and Inter-Company Charging Costpoint also offers global tables, which are database-wide items that all companies can see and use, such as general ledger companies and unique IDs for vendors, employees, customers, and projects. Additionally, the system supports inter-company work orders (IWOs) for transfers between entities, providing flexibility for cross-charging and revenue recognition.
Vendor Maintenance and Financial Reporting In a partitioned environment, vendors cannot be shared, and IDs must be globally unique. This setup ties each vendor to the appropriate accounts payable and cash accounts. For financial reporting, the “Re-Org” option allows for consolidation using distinct top-level organizations, while the “Org” option enables company reporting using a hierarchical methodology.
Conclusion Deltek’s Costpoint multi-company options offer the flexibility and control necessary for efficient financial management across multiple companies. By understanding the different setups available, organizations can choose the structure that best fits their operational needs and financial strategies. To learn more about Multi-Company setup in Costpoint, please contact us at: info@infotekconsulting.net
