Intercompany Transfers Administration>Global Settings

Overview

Intercompany Transfers

Automatic Inter-company Transfers have been added to the Purchase, Disbursement, Employee Reimbursable and Receipt Journals, as well as A/P and E/R Check Writing, Labor Distribution, and the Import Expense Sheets utility.

The automatic ICT’s (inter-company transfers) are balance sheet line items using the appropriate due-to and due-from accounts as specified in Global Settings on the Multi-Company Tab.

In Global Settings, four check boxes have been added to the Multi-Company tab to enable automatic ICT in the four aforementioned journals.

In each journal, an option to Enable ICT has been added to allow user enable/disable automatic ICT.

In the four processes (the two check writers, import expense sheets and labor distribution) a Post ICT check box has been added.

In all cases the “Use Multi-Company” option must be enabled in Global Settings.

When the “Enable ICT” is active in a journal, the automated lined entries made by the system are not editable.

The use of G/L accounts with no assigned organization is not supported in automatic ICT.  This means all of your G/L accounts involved in a transaction must have an associated org unit.

When more than two companies exist, each company must have separate due-to and due-from accounts established in the Global Settings inter-company account settings (matrix).  This means that one account appears more than once in the matrix.

Additional setup and training is required to use this feature as well as an associated cost.  If you are interested in using ICT, please contact support.