Intercompany Transactions

Log into the Company the cash is being moved from, in this example, Company 01.  Use an Overhead Project, Phase & Task Assigned to Company 01, the company issuing the cash.  Use Cash Clearing account in your GL Accounts setup as an Asset Account:

The resulting Posting log shows Company 01 as the owner, and uses A company Overhead Project, Phase & Task and a Cash Clearing account as an Asset Account.

See the resulting Posting Log below:

In Company 02, process a CR mirroring the CD in Company 01:

The resulting Posting log shows Company 02 as the owner, and uses the same Project, Phase, Task & Cash Clearing account from Company 01.  This will create an Intercompany Event for Intercompany Billing to be processed:

See the resulting Posting Log below:

When both transactions are posted, in General Ledger Reporting run a simple Trial Balance on the single Cash Clearing Account to assure that it “always” nets to zero.  Be sure to set your report to report “ALL” Companies.

In Company 01, the CR file is available to process Intercompany Billing on:

There will only be an intercompany on one company, the company initiating the payment and chosen when selecting the Project, Phase & Task assigned to that company in both transactions.

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