📌 Setting Up a Company in SuperNova

ManagingA company is a legal entity that conducts business activities, whether in manufacturing, retail, or services. In SuperNova, the first company is created during account setup. If your business operates multiple companies, you can easily add more.

📍 Navigate to:
➡️ Home > Accounting > Company

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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.

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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 periodsreporting.

efficiently

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📍 operations.Domain SuperNovaSelection

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2️⃣📍 Chart of Accounts Importer(CoA)

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SuperNova youoffers:
✅ A Standard Chart of Accounts
✅ The option to importcopy from an existing company

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4️⃣ Default Settings in a Company

You can set default values for quick and ensuresaccurate thattransaction yourposting.

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

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5️⃣ Accounting Features

📍 Monthly Sales Target

Set and track monthly sales goals for better financial structure is set up correctly—whether during initial setup or restructuring.planning.

3️⃣📍 PeriodDefault ClosingAccounts Voucher(Editable)

AtWhen 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.

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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.

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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 endCompany Creator.

📍 Steps:

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

🚨 Once deleted, transactions cannot be recovered! 🚨

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8️⃣ Changing Parent Company

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

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

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✅ Why Set Up Your Company in SuperNova?

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

SuperNova makes business accounting period,simple, this tool automates financial closing activities. It consolidates adjustments, accruals,efficient, and other necessary entries to finalize transactions, ensuring accuracy and compliance.scalable!

By leveraging these features, businesses can simplify financial transitions, reduce manual effort, and maintain accurate financial records throughout each accounting cycle.