<< Click to Display Table of Contents >> Navigation:  Deposit Entry > Multi-Company Deposit Entry

Multi-Company Deposit Entry is an Add on feature to the Deposit Entry Module.  It has one primary purpose, the ability to enter receipts (deposits) into one (parent) company, and record the entries (A/R, income, etc) into other (multiple) companies.

 

Multi-Company Deposit Entry uses an intercompany account in each company (see following).  

 

Example of the parent entry:

 

 

Example of the Subsidiary entry:

 

 

Setup:

1.ALL companies (Parent and subs), must have the same setup for:

 

•Sub-Table for inter-company (65 < inter-company> in our example).

•Intercompany account (1299 – Sub-Table 65 in our example)

•Set up Sub-Accounts (using the inter-company Sub-Table) for each company (parent and subs).  Use the 5 digit company code for the Sub-Account.  The intercompany Sub-Accounts need to be the same in all companies.

•Same journal for DE to record the entries in both the parent and in the affiliate companies.

 

 

Also, make sure the A/R account range under Accounts Receivable Options encompassed the A/R range is all companies (Parent and Sub), if open item is used.

 

Entry:

Once you have Multi-Company Deposit Entry setup; enter receipts into the parent company using Enter Deposits.  A new field “Company” will be available on this screen for you to select the company to record the entry.  

 

 

 

Complete the remaining Deposit entry input cycle.  Upon Update, the entries will be made into the corresponding subsidiary company as un-posted entries. You must post the entries via General Ledger > Manual Entries > Post Entries.

 

If the entries to your intercompany accounts get distributed in one company or another, you can use the Reconcile Interco Account report to help you reconcile between the companies. This must be run from the Parent Company.