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[Karla Alexopoulos]

Can someone please provide a sample of the journals using the intercompany payables function of GP? I was at Amplify and heard the function mentioned a few of the sessions and I am curious to understand how it works and if it’d be useful to our company.

We have approximately 10 companies, and we do not use the intercompany function. We post the expense in company A to an intercompany GL account. At the end of the month, we reconcile that account and prepare a journal to enter in to company B to record the expense. Could the intercompany function eliminate this step of our month end process? How is the expense account debited from company A to company B? 

Thanks!
Karla 

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Karla Alexopoulos
Nautilus International Holding Corporation
Long Beach CA
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[Tim Andaya]

Take a look at this; seems like it answers your question
Intercompany Processing with Dyanmics GP

YouTube		remove preview
Intercompany Processing with Dyanmics GP http://www.rosebizinc.com This quick video shows you how to set up Intercompany Processing with Dynamics GP and how to process transactions using this functionality. This built-in functionality automatically creates transactions in the distribution companies, and keeps all company ledgers in balance. If you’re used to working in QuickBooks, you will really like this functionality. View this on YouTube >

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Tim Andaya
Strategic Systems Group
There are no stupid questions, I’d rather have you mad at me for telling you something you know, than not telling you about something you didn’t.
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[Katie Easton]

We use intercompany for the 3 companies that we have.  The function is quite wonderful, however, with any type of bank transaction (withdrawl, etc), the intercompany function is not available.  Hopefully, Microsoft will add this function soon!

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Katie Easton
Theodore Roosevelt Medora Foundation
Medora ND
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[Ronda Smith]

Intercompany is a great timesaver and helps with reconciliation.  As previously stated it does not work in cash transactions.  Also, if you void a payment that was posted in a/p and had interco transactions, it will not void the allocations for the other companies.  If you have a lot of interco trans I would reconcile your interco BS accts more regularly at first to make sure all companies balance.  Hopefully MS will update interco to avoid these exceptions.

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Ronda Smith
Arkansas Specialty Orthopaedics
Little Rock AR
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[Leslie Vail]

There is a setup option in general ledger where you can disallow backing out intercompany transactions.

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Leslie Vail
Accounting Systems Consulting, Inc.
Dallas TX
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[Neil MacDonald]

You might want to consider one of the many intercompany tools available through the ISV channel. We offer Multi-entity Management, which allows you to put your 10 companies in a single database and it handles all the intercompany transactions for you.  If that is not doable, our Bridge will sit on top of the 10 databases and treat them a if they were one. Virtually all transactions are support under either, including the cash transactions that are not covered under GPs’ intercompany.

Feel free to contact me if you want more information, or check out our website (Leading ERP Software Solution Provider | Binary Stream

Binary Stream		remove preview
Leading ERP Software Solution Provider | Binary Stream Cloud Innovation. We are constantly evolving our products and utilizing the latest Microsoft technologies so we can grow with your business as you grow. Whether you are on-premise or in the cloud – we have you covered. Industry Specific Solutions. We have extensive experience creating industry-specific solutions to extend functionality of Dynamics ERP. View this on Binary Stream >

)

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Neil MacDonald
Solutions Consultant
Binary Stream
Moncton NB
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[Meredith McCurry-Webb]

The only downside I have is the lack of reference in the second company.  If you enter a FedEx bill into company A where a portion is to company B, the reference when it comes to company B is just that it was a payables transaction.  This might be something they are working to adjust, but in all versions, I have worked in – it’s the same way.  I resolve it with the use of a smart list when I’m completing the reconciliation, but it would be nice to have that done automatically.  Aside from that – once you get the hang of adjusting the distributions, it is a wonderful tool.  

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Meredith McCurry-Webb
Director of Accounting
Community Associations Institute
Falls Church VA
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