One of the many features that Uphance ERP offers is the Multi-Company Functionality. This allows you to manage your companies individually from one system. There are many reasons for adopting a Multicompany approach and these mostly have to do with taxation authorities and separating financial accounts. For instance, a company with operations in multiple countries may need to keep separate accounting requirements and even register a local company for compliance.
Also, in recent times, many businesses that operated out of the UK to meet EU Taxation requirements have had to register local companies in other EU locations in the aftermath of Brexit.
The multi-company functionality serves as your one source of truth and complete visibility for each of your company’s statuses. Also, with this feature, you can connect to multiple accounting systems such as XERO and QBO for each company. It also offers the ability to integrate one of the companies into The Iconic Marketplace, manage automatic emails to each of these companies, and many more capabilities.
Here’s how to enable and use the multi-company functionality on Uphance.
Note: The Multi-company functionality is only available to Uphance users on the Enterprise plan. Learn more about Uphance Pricing.
Activate Multicompany Functionality
To get started with your multi-company strategy on Uphance, you’ll need to first enable the functionality from the app.
Navigate to Settings on the left-hand side of your Uphance app.
Click Companies to open the configuration panel.
Check the box to Enable Multiple Companies.
Add a Company
Once you’ve enabled the Multicompany functionality, you can add multiple companies to your Uphance account/app. To do this;
Navigate to the Companies section of the page.
Click the Add (+) icon at the top right to add a new company.
Enter your company information including its name, address, contact information, and bank account details.
Check the relevant boxes to select any associated brands you already set up on Uphance.
Click the Save button at the bottom of the page to proceed.
How to Add Company to The Iconic Marketplace
To link your company and multiple brands on Uphance with The Iconic Marketplace;
Navigate to Apps on the bottom left section of the page.
Scroll to The Iconic Marketplace and Click Configure to enter the configuration panel for the marketplace.
Locate the top section of the page and navigate to Iconic Company. Select your preferred company from the list.
All the brands associated with the company should be displayed at the bottom of the page.
Here’s a guide on how to integrate The Iconic Marketplace and process orders with Uphance.
How to Assign Company in QuickBooks Integration
One of the many benefits of a Multicompany strategy with Uphance is the ability to seamlessly connect to multiple accounting systems including QuickBooks. For instance, a company with operations in the UK and Canada may opt to assign the UK company to Xero and the Canadian company to QuickBooks.
To assign a company to QuickBooks, you’ll need to;
Navigate to Apps from your Uphance Dashboard.
Locate QuickBooks and click Configure. If you haven’t already added the QuickBooks app, first click Add and then repeat the step to click Configure.
Connect Your QuickBooks Account and Assign Company
How to Assign Company in Xero Integration
By supporting your Multicompany strategy, Uphance can ensure that the right financial information is pushed to separate accounting solutions including Xero.
To assign a company to Xero, you’ll need to;
Navigate to Apps from your Uphance Dashboard.
Locate Xero and click Configure. If you haven’t already added the QuickBooks app, first click Add and then repeat the step to click Configure.
Connect Your Xero Account and Assign Company.
Note: For XERO and QuickBooks, each company will need a separate account for each country. Alternatively, users could use QuickBooks for their brand in the US for instance, and use XERO for their Australian or Canadian brand. Multiple brands with separate Shopify accounts can connect these accounts separately.