Divisions are optional. They help monitor profitability by division or cost center within a single financial entity. But Manager users also find them helpful for monitoring financial performance at different geographic locations or on business brought in by individual sales representatives.
You can employ divisions selectively. That is, you can apply them only to certain types of transactions or those you want to include in a specific analysis. Different divisions can be applied for different purposes, as well. So their utility extends well beyond divisional accounting.
Creating divisions
In the Settings tab, click on Divisions, then New Division:
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For purposes of illustration, asume you want to track three divisions: Alfa, Beta and Gamma. Enter the name of the first division and click Create:
Repeat for the other two divisions:
Note
Once created, divisions are available for all purposes. Therefore, you can mix divisions for different purposes. For example, you might create divisions for sales personnel, allowing you to compare their performance by generating profit and loss statements for the business each brings into the company. At the same time, you might also create divisions for different geographic locations of branch offices. That would allow you to create fixed asset and employee lists for each location.
Inactivating divisions
When a division is no longer necessary, it can be inactivated and will no longer appear in menus. Click Edit for the division. Since the division has already been created, a checkbox appears to make the division Inactive . Check the box:
If the division becomes active again, simply uncheck the box. In either case, click Update to save the change.