Posted by: IS | May 15, 2009

Enter Corresponding Intercompany ID tick box

This feature was added in Release 6.0 and will give you the ability to enter a Corresponding Unit, or Destination Company, on each distribution line for Intercompany Transactions entered in Payables Management and General Ledger. This will allow the Enterprise Reporting Integration to bring the correct information into Enterprise Reporting and any intercompany eliminations can be performed during the reporting process.

Prior to Version 6.0 , we did not store any information in the originating company to tell us the destination of the transaction. Because of this, Enterprise Reporting users must manually edit any intercompany transactions so they can be eliminated during the consolidated reporting process.

This feature will store the company for each distribution line on a ‘from now on’ basis. There will not be any way to get the information into transactions posted before this feature was added.

Because of the information needed for Intercompany Transactions in Enterprise Reporting, we are recommending that there be only one originating company per intercompany transaction. Also, if one account will be distributed to multiple companies, we recommend that this account be broken out to show individual corresponding companies.

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