Creating a Business Unit

The Impexium Business Unit (BU) contains core accounting information and setups, including accounts, fiscal year, allowed payment methods, and more. This is where all key accounting information in your system is configured. Once this is in place, everything else related to accounting can begin to be configured.

The system can be set up with one or more business units, depending on an association's requirements. Why might multiple be necessary? Possible scenarios include:

  • You may have a foundation, association, and/or services group, for example, with different accounts for each.

  • Business units could have different tax requirements.

  • Could need to handle multiple different currencies.

  • Chapters could have separate business units.

Information in the BU must be set up before products can be set up or purchases made in the system.

To create a new business unit:

  1. Navigate to the Accounting App > Setup.

  2. In Setup, select the Business Units menu option.

  3. Click the Add New Business Unit button.

  4. In the Add New Business Unit form (required fields are flagged with an asterisk):

    • Enter a Code and Name.

    • Provide a Description if desired.

    • Choose the Currency to be associated with the Business Unit. (Each business unit can be configured for only one type of currency. If multiple currency types are required, multiple business units must be created.)

Once the business unit has been created, open the Business Unit Record and set up the following information: