20 Mar Dynamics GP Intercompany Processing
Dynamics GP Intercompany Processing allows you to easily create and account for intercompany transactions between different Dynamics GP company databases you have in your system.
These are some of the problems that typically happen when you don’t have a good intercompany transaction system:
- Transactions don’ t get created in the necessary distribution companies
- Intercompany accounts become unbalanced
- Multiple entry of the same transaction is required
- There’s not sufficient audit information in the distribution companies about the origin of the transaction
Dynamics GP Intercompany Processing solves these issues and is included as part of the basic system (usually).
It’s really fairly easy to set up. You just need to identify due-to and due-from accounts for each intercompany pairing, ie. if you want to process intercompany transactions between Company A and Company B, you need to setup due-to and due-from accounts for Company A and for Company B. You only need to do this once.
Entering Intercompany transactions is straight forward. You need to specify the destination company(ies) you want the transaction to post to. Make sure you select the “Intercompany” check box in the transaction header area. You must post these transaction in a batch.
Once you select the distribution company, you will be able to look up account numbers from the distribution company’s chart of accounts to use in the transaction.
This is a quick video that shows this functionality: