In this article we're explaining what "Organisations" in Nomos One are, why you might like to separate your portfolio by into multiply Organisations, and how you can create new Organisations in Nomos One.

What are Organisations in Nomos One?

Your Nomos One Organisation is where your data is created and stored within the software. All customers will have at least one Organisation, providing a space for Agreement data to be stored, updated, and viewed in reports. Some customers may have multiple Organisations, allowing them to split their portfolio of Agreements into separate spaces within the software. Some users may refer to an Organisation as an “Entity” or “Portfolio”. 

You can find the Organisation/s you have access to in the sidebar, underneath the “Organisations” header.

Why split our portfolio into separate Organisations?

Location: If your business operates over multiple regions, states, or countries, you may want to set up separate Organisations in Nomos One to represent these.

User Access: You may have Agreements that are only relevant to specific users. Having separate Organisations means you can invite a unique group of users to each.

Currency: Each organisation has its own Settings Console, allowing you to set a Default Currency. If your portfolio includes multiple currencies, you may want to set up an Organisation for each. 

Reporting: If you have different reporting requirements for different parts of your portfolio, you may want to set up separate Organisations to accommodate these.

Lessee vs. Lessor: While Nomos One only currently offers IFRS 16 reporting for lessees, you are still able to create Agreements wherein you are the lessor in the system. To split these out, you could have one Organisation for Agreements where you are the lessee, and another for Agreements where you are the lessor.

Reporting in separate Organisations

Contractual Reporting: If you do have multiple Organisations, you can run contractual-focused reports that consolidate information from each of your Organisations. You can use the Global Reports feature, found in the sidebar of the platform, to view this consolidated information through global versions of the contractual reports. This functionality is somewhat limited, as the resulting report cannot be saved as a template. 

IFRS 16 Reporting: There is no way to run consolidated IFRS 16 reports across separate Organisations in Nomos One. If you do have separate Organisations and need to see consolidated IFRS 16 information, you will need to run the relevant report in each Organisation, then combine the outputs outside of Nomos One. If you frequently need to view IFRS 16 information for your entire portfolio, it could be more appropriate to have one Organisation, then use tools like Asset Class or GL Templates to catergorise Agreements and filter the reports.

Need to create a New Organisation?

To ensure your Organisations are kept secure, our Support Team will create any new Organisations for you. They will only add the users specified in your request. Email support@nomosone.com and we can set up a new Organisation for you. There is no charge for setting up a new Organisation.

Once it has been created, you'll receive an email letting you know that you've been added to a new Organisation. Login to Nomos One and you'll be able to start using the new Organisation right away. 

Nomos One does not provide or purport to provide any accounting, financial, tax, legal or any professional advice, nor does Nomos One purport to offer a financial product or service. Nomos One is not responsible or liable for any claim, loss, damage, costs or expenses resulting from your use of or reliance on these resource materials. It is your responsibility to obtain accounting, financial, legal and taxation advice to ensure your use of the Nomos One system meets your individual requirements.