The Intercompany Transactions module lets you enter General Ledger and Accounts Payable transactions that affect more than one company by automatically distributing transactions across two or more companies. In addition, its built-in flexibility automatically generates intercompany loan account entries according to user-defined relationship tables called routes. Intercompany Transactions simplifies and significantly reduces the amount of work required for intercompany accounting.
Intercompany Transactions Capabilities
- Process intercompany General Ledger journal entries and intercompany Accounts Payable invoices, debit notes, and credit notes.
- Create an unlimited number of routes to define relationships between companies, including multilevel routes.
- Automatically make loan account entries for intercompany transactions and distribute invoices to as many General Ledger accounts as required by defining distribution sets.
- Fully integrate with Tax Services to handle tax computations for expensed, allocated, or recoverable taxes.
- Enter transaction references and descriptions to provide a detailed audit trail for reconciliation purposes.
- Print an intercompany loan account reconciliation report to identify loan accounts that do not agree.
- Process multicurrency transactions in Intercompany Transactions, General Ledger, and Accounts Payable*.
- Distribute transactions to companies with differing functional currencies*.
- Create routes with originating companies, intermediate companies, and destination companies having different functional currencies*.
- Process multicurrency transactions for multicurrency or single-currency intermediate and destination companies*.
Standard Reports
Some of the reports included are:
- Invoice Batch Listing
- Invoice Batch Status
- Loan Account Reconciliation
- Route Listing Report
- Unposted Invoice Batches
*Available with the add-on Multicurrency module.
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