You create intercompany
accounts to make it possible for
Vantagepoint to process and track transactions that involve more than one company.
Prerequisite: To use intercompany
accounts, you must belong to a security role that has access to
all companies set up in
Vantagepoint.
To create intercompany
accounts:
-
On the Navigation menu in the desktop application, click
.
-
On the toolbar of the
Accounts form, click
.
-
Create an intercompany
accounts receivable
account by completing the fields on the General tab of the
Accounts form.
Each
account number must be unique across your enterprise. The
account must be an asset
account.
-
Click
Save to save the
account record.
-
Repeat steps 2 through 4 to create and save the following
accounts:
- Intercompany
accounts payable: Liability
account.
- Suspense: Balance Sheet
account.
Vantagepoint uses this
account to record intercompany General Ledger entries at the time of transaction posting, but prior to running intercompany billing and charges.
- Direct expense
account for foreign labor type labor posting: Direct expense
account.
- Indirect expense
account for foreign labor type labor posting: Indirect expense
account.
-
If you are using detailed subledgers for intercompany billing, set up intercompany revenue
accounts for labor revenue and expense revenue.
-
If you are using cash-basis reporting and detailed subledgers for intercompany billing, set up an intercompany cash-basis suspense
account.
This
account should be a revenue or expense
account.
-
Specify which companies can access each of the intercompany
accounts that you created.
By default, each
account that you create is specific to the active company and is not available for use by any other companies. You must explicitly grant access to any additional companies.