In today’s world of consolidations and mergers, the need for intercompany processing is clear. Even more complex accounting transactions need to be handled in a more efficient manner with accountants spending far too much time reconciling intercompany accounts.
Open Door’s InterCompany for Microsoft Dynamics® NAV allows almost any single transaction to be posted to multiple companies within one database. Samples of uses for this add-on include:
- An expense invoice recorded in Accounts Payable can automatically post to the correct expense accounts in one or more related companies, by selecting a related company for each line and then looking up the correct expense account within the related company. When posted, the invoice will record the expense accounts for each related company and create automatically balanced intercompany accounts for both the originating company and the related company.
- Amounts may be posted to any account, department, or project in a related company.
- A simple journal entry can easily create all related intercompany balancing entries in each company.
- Accounts Receivable invoices may be booked across several companies.
Predefine InterCompany Rules
With InterCompany, a corporate office can predefine which companies will be available for participating in intercompany transactions and to which companies users are permitted access. Then, by defining which accounts, projects and departments are available for these transactions, a corporate group can ensure transactions get posted correctly the first time. You may also:
- Efficiently record transactions across multiple companies within one transaction screen.
- Automatically create balancing entries across multiple related companies.
- Eliminate data entry duplication.
- Predefine posting rules for intercompany entry.
- Allow lookups into Related Company Chart of Accounts.
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