Create a Bankrupt Company

Use these steps to create a bankrupt company.

To create a bankrupt company:

1. Go to General Ledger > Bankruptcy Management > List of Companies.
2. Click the New Company action to open the wizard.
3. In the Company No. field, enter a number for your company.
4. In the Name field, enter the name of your company.
5. In the Country field, select a country from the drop-down list.
6. In the Base Currency field, select the currency to be used as the base currency for the company.
7. In the EU Reporting Currency field, select a currency to be used as the EU reporting currency from the drop-down list.
8. In the Fiscal Year field, select a date to indicate the fiscal year.
9. In the Access Level field, enter the access level to specify who can view details for the company in this workspace.
10. In the Copy from field on the Local Chart of Accounts island, select an existing local chart of accounts to copy from.

    This creates the local chart of accounts for your company.

11. In the Copy from field on the Local Specification 3 island, select an existing Local Specification 3 from which to copy.

    This dimension is a list of the assets of the company. This creates the local chart of accounts for your company.

12. In the External Estate Number field, enter the external estate number if needed.
13. Click Create.
    Note: You can modify information about the company, Local Chart of Accounts, or Local Specification 3 in General Ledger > Bankruptcy Management > Setup.