Hi @Chirantha , I have just realised it’s not Apps 10, but Apps 9 that we have. Can you please advise in respect of functionality that can give me what I need, in Apps 9? @Wallace - Intercompany AR/AP/Inc/Exp is eliminated at the parent company consolidation level. Subsidiaries maintain their own sets of books. At the subsidiary level intercompany AR/AP/Inc/Exp should exist on the financial statements, correct? (Sub FS) YesThey are later eliminated when consolidating by the parent. (Parent consolidated FS) YesLet's say the sub has an AR balance with both the parent and laterally with another sub. They learn they will only receive reimbursement of 50% from each intercompany AR. What is the JE to record the reduction of AR balances(write off/net asset transfer) on the Sub FS? The entries in the sub would be Cr Intercompany AR 100 (you would need to note the trading partner - parent - on the journal)Dr Intercompany Expense 100 “the write off” (you would need to note the trading partner -
Thanks @Chirantha ,Do you have any guidance that you could show, that can walk me through how to do this?Also, can you please explain if there is a way to enter an AP invoice directly to a second company, thereby automatically generating the intercompany entries, without the need to first book the entries to the paying company, and manually reallocating the cost via Multi-Company voucher? Thanks Chris
Thanks Madusha, this is very helpful. Can you advise on how this functionality can be turned on - and do you have any guidance manuals that would be relevant for me to look at?When you say that account matching can only occur for items that match to zero, what does this mean? Does this mean that both local currency and GL base currency must equate to zero? Or could a transaction be matched if, say, only the local currency nets to zero. Would there be any automatic journal generation behind the scenes to account for any base currency FX variance? E.g Dr GBP 100 (130 USD) Cr GBP 100 (135 USD) - could these be matched? Is there any ability for IFS to support item matching for items that dont net to zero? Say, due to misc FX or other small reconciling items? Thanks Chris
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