MEM Automatic Intercompany

  • MEM Automatic Intercompany

    Posted by DSC Communities on March 17, 2017 at 3:24 pm
    • Amber Richard

      Member

      March 17, 2017 at 3:24 PM

      Hi all,

      We are using the MEM module from Binary Stream and are currently testing the automatic intercompany options. I had entered the Due To and Due From accounts for one of our entities (0109) but not another (0103) and we got a weird issue when creating the distributions. Instead of giving me an error that there were no Due To/Due From accounts set up for entity 0103, it incorrectly created the automatic IC entries with 0109 for both the debit and the credit. See example:

      Debit – Cash Receipts – 0103-XXXXX-00 $100.00

      Credit – Accounts Receivable 0109-XXXXX-00  $(100.00)

      Debit – I/C Trans – 0109-XXXXX-00     $100.00

      Credit – I/C Trans – 0109-XXXXX-00 $(100.00)

      This of course would put the accounts out of balance and we would not want this to be posted. The correct Credit should have been posted to a 0103 account (or given me an error since the I/C accounts for 0103 had not been entered).  Is this supposed to happen? I thought MEM would help prevent out-of-balance entries getting posted. Has anyone else experienced this?

      Thanks in advance for any suggestions!

      ——————————
      Amber Richard
      Golden State Lumber Inc
      Petaluma CA
      ——————————

    • Bill Breitenbach

      Member

      March 20, 2017 at 9:02 AM

      How did you set up the distributions on the Intercompany Distributions Accounts Setup? It should be set up like this:

      Originating Entity ID: 0103

      Destination Entity ID: 0109
      Due To Account: 0103-26000-00
      Due From Account” 0109-26000-00

      You also set up the other entity this way.

      Originating Entity ID: 0109

      Destination Entity ID: 0103
      Due To Account: 0109-26000-00
      Due From Account” 0103-26000-00

      This assumes the due to/from natural account is 26000. Check out Help…About this window for more information about mapping this accounts.

      ——————————
      Bill Breitenbach
      IT Director
      Signature Healthcare LLC
      Louisville KY
      ——————————
      ——————————————-

    DSC Communities replied 7 years, 4 months ago 1 Member · 0 Replies
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