+1
Hello there, we have a scenario in which company A and company B are sister companies (under the same master company).
As required by our business process, Company A must bill Company B, which means the actual invoice will be created and entered into AR in Company A and AP in Company B.
I am just wondering how can you net/offset these 2 invoices that are in 2 companies so they don't show up as "not paid" in IFS.
We are in IFS Cloud. Please help! Thank you :)
Hello
You can offset on Mixed Payment. Create a new mixed payment with cash account NET AP/AR. Enter a new transaction with customer payment selecting invoice subject to offset. And another transaction with supplier payment.
Approve mixed payment and transactions will be offset.
Hope this helps
Hi,
if company A and B are different legal entities, I think actually company B should pay the invoice to company A (transfer some money).
Otherwise, accounting wise you cannot just close one account in company A vs another account in company B - there must be come counterpart account in same company.
You can do multicompany payment as
+1
Hello
You can offset on Mixed Payment. Create a new mixed payment with cash account NET AP/AR. Enter a new transaction with customer payment selecting invoice subject to offset. And another transaction with supplier payment.
Approve mixed payment and transactions will be offset.
Hope this helps
Hello
Hi
You can offset still but at the end you will have a PP22 and PP23 transactions at the end.
I am simulating transactions for you here.
The payment transaction is created in company MC (which was invoice receiving company). In line 1, supplier payment is created from company MC for supplier AS.
In line 2, customer payment is created from company AS for customer MC. Payment is approved.
You will receive 2 different voucher.
In company MC, you have now debt to company AS. Posting control is PP22.
In company AS, you have now receivable from MC. Posting control is PP23.
Basically, your debt and receivable is not anymore invoice but a cash debt and receivable.
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