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📌 Setting Up a Company in SuperNova

📍 Navigate to:
➡️ Home > Accounting > Company

1️⃣ Creating a New Company

  1. Click New in the Company list.
  2. Enter the Company Name, Abbreviation, and Default Currency.
  3. Click Save.

🔹 The abbreviation (e.g., FT for "Frappe Technologies") helps differentiate assets, cost centers, tax templates, and warehouses between companies.
🔹 You can upload a logo and add a company description for better identification.

2️⃣ Multi-Company Structure

SuperNova supports businesses with multiple companies—whether they are sister companies, parent-child companies, or a mix of both.

📌 Parent Company → A larger entity with subsidiaries.
📌 Child Company → A subsidiary under a parent company.

🔹 The Company Tree View visually represents your business structure.
🔹 SuperNova ensures that child companies have matching accounts with their parent company for consolidated financial reporting.

3️⃣ Additional Company Settings

📍 Domain Selection

Choose your business category (e.g., Manufacturing, Retail, Services) during setup.

📍 Parent-Child Relationship

🔹 If your company is a parent, enable "Is Group".
🔹 If it’s a subsidiary, select the Parent Company—this ensures it inherits the Chart of Accounts from the parent.

📍 Chart of Accounts (CoA)

Each company maintains its own Chart of Accounts for legal compliance and financial management.
SuperNova offers:
✅ A Standard Chart of Accounts
✅ The option to copy from an existing company

If a Parent Company is selected, the new company automatically inherits its CoA.

4️⃣ Default Settings in a Company

You can set default values for quick and accurate transaction posting.

✅ Letterhead & Holiday List
✅ Working Hours & Terms & Conditions
✅ Tax ID & Establishment Date

5️⃣ Accounting Features

📍 Monthly Sales Target

Set and track monthly sales goals for better financial planning.

📍 Default Accounts (Editable)

When you create a company, some default accounts are set:
🔹 Receivable & Payable Accounts
🔹 Discount, Rounding, Write-Off, & Exchange Gain/Loss Accounts
🔹 Payroll & Expense Claim Accounts

📍 Stock & Manufacturing Settings

For inventory tracking, SuperNova enables Perpetual Inventory by default, ensuring stock transactions impact accounting records.

🔹 Inventory & Stock Adjustment Accounts
🔹 Stock Received But Not Billed
🔹 Operating Cost Accounts for Manufacturing Overhead

📍 Fixed Assets Management

SuperNova automatically creates key accounts for asset tracking:
✅ Depreciation Accounts
✅ Asset Disposal Gain/Loss Accounts
✅ Capital Work in Progress Accounts

If managing multiple Finance Books, enable this in settings.

6️⃣ Advanced Settings

📍 Human Resource Allowance (HRA)

For Indian businesses, this helps in Employee Tax Declaration calculations.

📍 Bank Remittance Settings (India Only)

For Kotak Bank, you can generate a payment order for multiple bank transfers.

📍 Budget Controls

Set budget approval roles to manage expense limits.

📍 Company Information

Save essential company details like:
📌 Date of Incorporation
📌 Phone, Email, & Website
📌 Business Registration Numbers

🔹 If your business has multiple GST numbers for different locations (e.g., Mumbai, Delhi, Bangalore), add separate addresses with their GSTINs.

7️⃣ Deleting All Company Transactions (Use With Caution!)

🔴 This will erase all transactions (Orders, Invoices, Payments, etc.), but keep master data (e.g., Items, Employees, BOMs).

📌 Requirements:
✔️ Must be a System Manager.
✔️ Must be the Company Creator.

📍 Steps:

  1. Click Delete Transactions under Manage.
  2. Enter your password.
  3. Confirm the Company Name.

🚨 Once deleted, transactions cannot be recovered! 🚨

8️⃣ Changing Parent Company

Easily change a company's Parent Company from its settings.

📍 Go to Parent Company field > Select new Parent Company > Save

✅ Why Set Up Your Company in SuperNova?

✔️ Streamlined Financial Management
✔️ Easy Multi-Company Handling
✔️ Automated Chart of Accounts Setup
✔️ Integrated Accounting & Inventory Tracking

SuperNova makes business accounting simple, efficient, and scalable!

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