Creating a finance company

Finance companies are tied to a finance group and multiple companies can belong to one finance group.

Note: Creating a finance company is required if you are creating finance resources from HR11 Employee Records. A finance company is required for Cash and Treasury Management and Reconciliation Management and optional for AP Invoice Automation and Close Management.
  1. Select General Setup > Finance Companies.
    Note: You can also select finance companies from General Setup > Finance Group > Companies or General Setup > Finance Companies.
  2. From the Actions menu, select Create.
  3. Specify this information:
    Finance Group

    Select the finance group associated with your finance company.

    Company

    Select the company number that must match an Infor Lawson Financials General Ledger company number.

    Note: You cannot load or select companies from General Ledger companies if using a standalone application.
    Company Identifier

    Specify a Company Indentifier. This is alphanumeric value is for Non-Lawson systems and is included in reporting or journal entry output.

    Show Discounted Amount

    Select this check box to use the discounted amount of accounts payable (AP) and accounts receivable (AR) transactions when compiling balance totals. If cleared, the full transaction amount is used.

    Reconciliation Calendar

    Select a system calendar. You can define different calendars for each company.

    Note: This field is used for Reconciliation Management only.
    Reconciliation Period Group

    Select a reconciliation period group.

    Note: This field is used for Reconciliation Management only.
  4. Click Save.