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PURPOSE
This document shows the detailed procedure on how to set up, maintain, load, delete and duplicate corporate structure in the system.
WHY IS THIS IMPORTANT?
A corporate structure contains information concerning the parent and child relationship and the percentage of the shareholding.
This information is used to determine the percentage of interest between two companies. For example, A has a 70% stake in C.
The stake is important in situation where A needs to know their share because it may affect, for example, their commitment to company C. If C has a commitment to pay 1,000,000 to a third party, A’s liability is 70%. This stake is referred to as the “effective interest”.
The effective interest may be used in the area of loan and facility reports.
PROCEDURE
The following instructions cover the following processes:
I. Inquiry
II. Create New Corporate Structure Group
III. Load Structure
IV. Maintain Structure
V. Duplicate Structure
VI. Delete Corporate Structure Group
I. Inquiry
1. Click Set Up > Static > Accounting Centre.
2. Click Group.
3. In the Accounting Centre Group screen, user may filter by Entity Group Type: Accounting Centre – Corp Structure or Accounting Centre – Standard. Unselect will show all.
4. Click Refresh.
5. Corporate Structure Group has a With Effect Date.
II.Create New Corporate Structure Group
1. From the Accounting Centre Group screen, click New Group.
2. To create a corporate structure group, choose Accounting Centre – Corp Structure on the Group Type field.
3. Fill in the fields. The Short Name field and With Effect field are mandatory.
4. Click Save.
5. Click the tick box besides N in App? column.
6. Click Approve.
III. Load Structure
1. To assign a structure on a group, click on the Short Name of the preferred group.
2. Click Template. A popup appears.
3. Choose Open or Save File then click OK.
4. Open the sheet on the computer. Fill out the sheet. Note that the Interest field must be in decimal so 70% will be written as 0.7 for example.
5. Save the file on the computer.
6. On the system, click the Read File checkbox. Click Browse.
7. Browse for the saved Excel file.
8. Click Read File. The details on the sheet will be read in the system.
9. If there’s an error reading the file, the system will prompt error messages as below. In this case, fix the template saved on the computer and read file again.
10. If no error, or error is fixed, proceed to click Update to save the structure.
11. Prompt appears when done.
IV. Maintain Structure
1. The structure can be changed by changing the entity, shareholder and Interest (%) on the screen directly. To maintain structure, click on the Short Name of the corporate structure group to maintain.
2. In this screen, user can add a row by clicking Add Button. New row will be added.
3. Click Minus Button beside the row to delete if needed.
4. Note that when updating Interest, the total for each entity should not exceed 100% because an entity cannot have more than 100% of shareholding. For example below, Entity OAK-NY below has 70.00% and 40.00%. In this case, an error will be prompted.
5. If there is an empty row which means no shareholder, no entity and no interest, the update will proceed but will not display that row. But if the row is partially completed, the system will prompt an error.
6. Short Name, Description and WEF can also be changed from this screen.
7. If done, click Update.
V. Duplicate Structure
1. To duplicate a structure, click on the short name of the group to duplicate.
2. In the next screen, click Duplicate.
3. The system will prompt user to change short name, description and date. If not changed, {1} will appear after the short name to indicate that it is duplicate group.
4. Click Update once amendment is done.
VI. Delete Group
1. To delete a corporate structure group, click on the tick box beside the short name of the group to delete.
2. Click Delete Group.
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