Company Master

The Company Master lists all the different companies created in the tool. Reports are generated company-wise, and hence, this is an important filter that can be used to segregate leases.

Users with the roles Admin, Maker, and Checker can create, edit, and delete companies.

  • There is no limit to the number of companies that can be created.
  • Deleting a company does not delete the leases under that company.
  • There is a separate method to delete all leases of a company.
  • Only the Admin user has rights to perform lease deletion.

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Fields in the Company Master

  1. Company Name – The name of the company. Can have upto 100 characters
  2. Company Code – The Company Code. It can be similar to the company code created in SAP (e.g. 1000) or can be the same as the Company Name. It can be upto 40 characters.
  3. Period Start Date/ Period End Date – The period start and end dates in the Lease Parameter screen sets the Period Close for the entire tool. However, it is possible to set a different period close cycle at an individual company level using this feature. If left blank, the dates in the Lease Parameter screen would apply.

  4. Transition Date – This defines the date on which the Lease Accounting Standard becomes applicable to the Company.

    a. Do note that this should match with the company’s accounting year. For instance, the Standard may be applicable from 1st Jan 2019. However, if the accounting year is Sept – Aug, the Transition Date would be 1st September 2019 as the Standard becomes applicable for that company from 1st Sep.

    b. For a first time adopter of IFRS/ Ind-AS, the Transition Date to be mentioned is one year prior to the date of adopting IFRS/ Ind-AS in order to compute prior year numbers for comparatives. 5. FY Start Date and End Date – These are auto populated based on the Transition Date.