About Companies
Within the system, a company is any company with a judicial form that can participate in a transaction. It combines both Entities and Counterparties. An Entity is one, or more of your own companies from whose perspective the transaction is made. A Counterparty is a company on the other side of the transaction, against whom an Entity can book a transaction.
Company register
In the company register,you will have a summary of all of your entities and counterparties. New entities and counterparties can be created from “Add new”-tab, imported from excel, or if you have existing companies, simply change the data.
Fields in company view:
Short name
This will be used in all forms/register views on the system. We recommend that you put here some shorter version of the company name that is known across the users.
Long name
This will be used to describe the company further. In general, this should be the full name of the company.
Base currency
This is the base currency of the entity. All numbers in reporting and accounting will be converted into this currency.
External or Internal
Internal represents all your companies that are part of the same group as you; all subsidiaries and its parent company. External represents all companies outside your group; usually, financial institutions or lessors with whom you have agreements with.
Entity and/or Counterparty
An Entity is one, or more, of your own companies, the company from whose perspective a transaction is made. A counterparty is the company on the other side of the transaction against whom an Entity can book a transaction. If you have internal transactions, you should choose both options for your company.
Issuer and/or Safekeeper. (Optional)
The Issuer is an external company issuing commercial papers. This will be used in the future for counterparty risk mgmt. The safekeeper is normally the bank that 'safekeeps' the commercial papers. This is also a field that will be used in future.
ADDITIONAL
Postal address line 1.
You can add here the postal information about the company.
Postal address line 2
You can add here the postal information about the company.
Country
This is where you can choose the country of origin for the company. This information is not used anywhere else, so this is just for information purposes only.
Counterparty code
This field is used in accounting and is a separate field in the accounting template. If this field is active in accounting, it will bring this information of the transaction counterparty to the template.
If you have an internal loan between Company A and B, company B has in this field text “xxx”. When Company A runs accounting for a loan, “xxx” will come to the counterparty code field.
Alias 360T
If you are using the 360T FX dealing platform and want to import agreements into the system, here you need to give all entities and counterparties the correct company alias name. Please note that the name should be exactly the same as in 360T.
Alias FxAll
If you are using the FxAll FX dealing platform and want to import agreements into the system, here you need to give all entities and counterparties the correct company alias name. Please note that the name should be exactly the same as in FxAll.
Entity code
This field is used in accounting and is a separate field in the accounting template.
Profit center
This field is used in accounting and is a separate field in the accounting template.
LIMITS
Guarantee limit
You can define here one guarantee limit to this counterparty. There is a separate Guarantee limit report in Reporting that will then list all guarantees based on each counterparty. Following this step, it will also calculate the used limit, listing guarantees based on limits.
FX limit
You can define here one FX limit to this counterparty. Currently, there is no report that supports this limit reporting.
MM limit
You can define here one MM/Loan limit to this counterparty. There is a separate Loan limit report in Reporting that will then list all the loans based on each counterparty. Following this step, it will also calculate the used limit.
EMIR reporting
This section is used if you are doing EMIR reporting for FX instruments.
IFRS16
This is for lease accounting.
Interest rate %
You can put here one default interest rate that you can use in lease accounting. Afterwards, it will come automatically if you create a new lease for this entity.
IFRS accounting – tab
If you choose this tab, all lease agreements created for this entity will be by default with IFRS tab on. You can, of course, switch this tab off from certain agreements if needed.
AUDIT TRAIL
This lists all changes done for this company.
Excel import for companies
Click the first Import tab. Then, from ‘Download sample’ you can get the import excel template that you can use for the import.
In the template you’ll find the most important fields for a company. All fields marked as “Tabs” in the system (Select either one or none) work with zero and one, with “0” meaning off and “1” meaning on.
Column M “Ifrs Accounting” needs to either 0 or 1 even though you might not have a lease accounting module. If that is the case, just select 0.
You can bring 50 companies at once.
Once you have filled in all your companies and have saved the file into your computer, you need to check the file and make sure it is readable. Following this step, click import.