Business entities & FX

A single OtiumWork company can have any number of business entities (legal entities, country branches, subsidiaries). Employees, clients, projects, invoices, vendor bills, contracts, and IP all attach to a specific entity. Finance reports roll across all entities at the company level — using FX rates you maintain per month — while individual records stay scoped to their entity.

/finance/entities is where you manage them.

Why it matters

If you operate in multiple countries you need per-entity books for tax + statutory reporting. But you also want one consolidated company view: total margin, total AR, total cash, total payroll. Multi-entity gives you both: each transaction lives in one entity, and the reports translate everything to the reporting currency (default USD) using the FX rate for the month the transaction landed in.

Setup

1. Add entities — /finance/entities → + Add entity. Name (e.g., "SoftInWay USA"), country, base currency, optional default hourly cost. Tick Default for the entity that pre-fills new employee records.
2. Assign existing data — every employee, client, project, contract, etc. has an entity dropdown. Bulk-edit on the entity page if needed.
3. Enter FX rates monthly — /finance/entities → FX tab. For each non-USD entity, enter the average rate for the month (e.g., INR → USD = 0.012 for April 2026). Reports for that month convert at this rate.

If an FX rate for the month is missing, the rollup falls back to the last-seen rate for that pair, then to 1.0 (and warns you on the dashboard).

How records inherit entity

Record	Entity comes from
Employee	Set on the employee form (admin or finance-flag holders)
Project	Set when creating the project; inherits client's entity if blank
Time entry	Inherits employee's entity at the moment of capture
Client	Set on the client record
Invoice / sale	Inherits project's entity
Vendor bill (mailbox / QB)	Set per-mailbox or per-QB-realm (one entity per source)
Contract / IP / insurance / litigation	Tagged on creation

Reports

• Per-entity — most finance pages let you filter by entity in the top bar. Departments, profitability, sales, commissions, R&D all support it.
• Consolidated — leave the entity filter empty and the report converts every entity's local-currency amount to the reporting currency at the month's FX rate, then sums.
• QuickBooks — each entity connects to its own QBO realm. Per-entity sync; no cross-entity contamination.

Permissions

• Admin or has_finance_access flag — full access to entity setup, FX rates, and assignments.
• Anyone else — read-only entity name on records they already see (e.g., on a project or contract); no setup access.

See Roles for the access model.

Tips

• Enter the previous month's FX rate as soon as the month closes — rollups stay accurate
• Don't change an entity's base currency after you start using it (no automated re-conversion of historical records)
• Use Default to pick the entity new employees go to — saves clicks during onboarding