Approach for Intercompany Billing (without Detailed Subledgers)
Before you use Intercompany Billing, review the configuration checklists and the recommended guidelines for the procedures.
When you run the Intercompany Billing process, Vision marks posting logs as Incomplete while Intercompany Billing is running so that other users do not try to process the same files. When the process is complete, these files are marked as Processed.
If the Intercompany Billing process does not complete as it should, the posting logs remain marked as Incomplete because the data in the files never finished processing. You can use the Reset Incomplete Files option to reset their status to the original state. After you reset the files, you can address the reasons for the incomplete processing and run the process again.
Deltek recommends that you complete the following steps in the sequence they are listed here:
- Run a draft Intercompany Billing run.
- Preview the Intercompany Billing report.
- Analyze the Intercompany Billing report.
- Make corrections and repeat these steps until you are satisfied that the data is accurate.
- Run a final Intercompany Billing run.
The final versions of the intercompany transaction files that you create are available in the Vision Transaction Center. On the Transaction Entry form, intercompany files are identified as follows:
- In the Creator field you see Intercompany Billing (rather than a username)
- The filenames contain an
ICBill prefix and display in this format:
ICBill transaction type date company
For example, you might see:
ICBill Reclass 04/05/2012 US
If the net of transactions for a given project/phase/task are zero in the functional currency for one company, but non-zero in the functional currency of the other company, as a result of currency exchange fluctuations, the net amount for the company having the non-zero balance is attributed to a currency exchange variance. If that case, the resulting journal entry moves the non-zero amount from the intercompany suspense account to a realized gain or realized loss account rather than to an intercompany AR or AP account.