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Intercompany Billing

If you have multiple companies set up in Vantagepoint, you can share employees among companies and maintain accounting for both labor and expense charges associated with shared work efforts.

For example, an employee from one company can charge time to another company's project on a timesheet or charge travel expenses to another company's project on an expense report. Use Intercompany Billing to track those charges.

Before you can begin to perform intercompany billing, you must complete some configuration steps. For more information, see the following:

Intercompany Billing Process

Until you run the intercompany billing process, the intercompany charges are kept in the appropriate intercompany suspense accounts. When you run the process, Vantagepoint does the following:

  • Creates the appropriate accounts receivable and accounts payable entries
  • Clears the intercompany suspense accounts
  • Makes the appropriate transfer pricing entries that you have established

In addition, if you enable detailed subledgers, you can set up Intercompany Billing to generate intercompany invoices and accounts payable vouchers, which are then available for posting in the Transaction Center. The intercompany invoices and accounts payable vouchers do not affect the general ledger, but they reconcile to the intercompany accounts receivable and intercompany accounts payable accounts that you establish. The subledgers help you track the intercompany transactions in detail, reconcile the intercompany accounts, and offer an ”arm’s length” payment and receipt function.

Recommended Steps for Intercompany Billing

Deltek recommends that you complete the following for each intercompany billing cycle:
  1. If detailed subledgers are enabled, select intercompany invoice options.
  2. Run a draft intercompany billing process.
  3. Generate and analyze the Intercompany Billing report.
  4. If detailed subledgers are enabled, preview the draft intercompany invoices.
  5. Make corrections and repeat the previous steps until you are satisfied that the data is accurate.
  6. Run a final intercompany billing process.
  7. If detailed subledgers are enabled, display and print the final intercompany invoices.