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Managing Intercompany Accounts

Paige Freeman
  • Updated

This screen is where you define the accounts for each company that will be used to balance cross-company transactions. A separate “from” and “to” account must be defined within each company for all companies referenced in the system. This type of account is only used if you have a multi-company. From this screen, you can add, edit, or delete intercompany accounts.

To add Intercompany Accounts:

  1. From the Accounting Setup section on the Organization Unit Settings page, click Intercompany Accounts..
    The Intercompany Accounts  page will display, as shown below.
  2. Click +New Accounts to add a new pair of Intercompany Accounts.
    The Add New Intercompany Accounts page displays, as shown below.
  3. Select the Financial Company from the drop-down menu.
  4. Enter the Debit Account number (the "due from" account associated with the account pair), or click Advanced to select from a list of accounts.
  5. Enter the Credit Account number (the "due to" account associated with the account pair, or click Advanced to select from a list of accounts.
  6. Repeat the steps to add the Financial Company, Debit Account, and Credit Account for the second Intercompany Account.
  7. Click Save.

To edit Intercompany Accounts:

  1. From the Accounting Setup section on the Organization Unit Settings page, click Intercompany Accounts..
    The Intercompany Accounts  page will display, as shown below.
  2. Click the pencil icon to edit the Intercompany Accounts pair.
  3. Edit the Debit Account and Credit Account fields as desired.
  4. Click Save.

To delete an account pair:

  1. From the Accounting Setup section on the Organization Unit Settings page, click Intercompany Accounts..
    The Intercompany Accounts  page will display, as shown below.
  2. Click the contextual menu, as indicated above.
  3. Click Delete.

If records exist for the Intercompany Account, when the user attempts to delete a validation message will appear and the record will not be deleted.

Screen Element

Description

Financial Company

Drop-down. The financial company associated with the organization unit and account.

Debit Account (Due From)

Search field. the debit (due from) account associated with the account pair and used for intercompany transactions. It can be an asset or liability account. This should be unique within the organization, organization unit, financial company, and receipt type. This account has a debit balance.

Credit Account (Due To)

Search field . The credit (due-to)  account  associated with the  account  pair and used for  intercompany  transactions. It can be an asset or liability  account . This  account  has a credit balance.