A subsidiary is an alternate company profile that you can use when you create a payment or template. You can use subsidiaries when your business requires that you create transactions for multiple entities. For example, a holding company could create a subsidiary for each of the company’s real subsidiaries. An accountant who pays taxes on behalf of clients could create a subsidiary for each client.
When you include a subsidiary in a payment, we substitute the characteristics of the subsidiary when we send the processed transaction to the receiving financial institution. The financial institution may or may not pass the information on to the recipient. A payment or a template can be associated with a single subsidiary.
If you have the Manage Subsidiaries feature assigned, you can do the following:
- Create subsidiaries
- Edit subsidiaries
The Subsidiary Management page does not appear if you don't have the right to manage subsidiaries.
Note: If subsidiaries are managed on your behalf, the Manage Subsidiaries feature and the Subsidiary Management page do not appear. When you create or edit a template, you can add or remove the existing subsidiaries.