Intercompany posting IP13 posting

Hi,

If you say the invoice got paid in error, what will the supplier do with the payment? Will they return it or will they keep it? Because for as long as the cash is still with them, IFS is showing the true transaction what happened. Clearing the intercompany cost posting (IP13) is essentially offset by the bank balance reduction in your company. 

It is correct that there is intercompany debt balance here - because you paid an invoice which should have been paid by them so essentially you owe money from them. You could enter an invoice against this company to transfer the funds to your entity and clear this balance.

Depending on what happens with the cash the solution on how to deal with this will be different. What is the end result you’d like to achieve in terms of postings for your and the end company? Some options you’ve got are:

• Invoice the inter-company to receive funds from them for the invoice paid
• Send a credit invoice to the supplier for the incorrect payment, post it to the intercompany
• Multi-company voucher

It might also be a good idea to change the posting controls for IP13 to go to a different account, rather than intercompany debtors for these scenarios, if this maybe should affect longer term loan account (and therefore each transaction wont’ get cleared) rather than debtors account.

Hi IRituma

Thank you so much for your response on this, I will try and do this and fingers cross this works and avoid this from happening in the future.

Will let you know if this work.

Thanks

Swati