Clients who use Intercompany Transactions often require to transfer money from Company A to Company B. This should be a feature in Intercompany Transactions that creates the relevant Inter Company Loan entries and Deposit / Withdrawal entries in each respective Company / Bank to clear.
by: Kerry J. | over a year ago | Financial Management
Comments
Agreed, and intercompany payables would be useful too, where one company can pay the payables of another company, updating the intercompany accounts. (This is available in MBS Solomon)
Depending on what you are trying to do Andrew the Intercompany Payables is there as it stands with the current product.
We use a third party solution called Inter-Entity by Orchid Systems to do this for us. It works very well for us. Saves us lots of time following entries through and recinciling.
True Inter-Entity is really cool and Orchid make some awesome products that we all use but in this case it only creates the GL entries and not the ones in another bank account to also clear which is what I am ideally looking for here.
I am also looking for unter-entity to creat bank transaction i/o just GL transactions.
there any solution available now. can any one update please.
Orchid Systems’ Inter Entity Transactions module has a new Cash Management feature that processes cash related transactions in Bank Services across multiple databases