Our Accounting Department’s procedure for Intercompany (IC) payments is not very efficient.
After receiving and vouchering, they print dummy (blank paper) checks and then void the checks.
When voiding, they direct the amounts to the proper IC account.
No one is sure why it’s done this way and we’d like to simplify it.
We are not multi-site. These other PCC plants are in the system as vendors.
Can those of you out there that deal with intercompany charges please let us know of a better way?
We’re thinking of controlling this at the vendor level by defining a category for each IC vendor and changing the "Accts Payable" account from our normal trade payable account to the vendor’s IC account. That’s great for when the #’s roll up into the divisional Hyperion consolidation system, but how do we direct SL to skip printing the checks?
We also want the liability to come off of the AP aging report?
SL 5.02.10 / Progress 9.1E.
We really appreciate your help,
Jim
Jim Cove
Business Systems Analyst
Wyman Gordon, A PCC Company
After receiving and vouchering, they print dummy (blank paper) checks and then void the checks.
When voiding, they direct the amounts to the proper IC account.
No one is sure why it’s done this way and we’d like to simplify it.
We are not multi-site. These other PCC plants are in the system as vendors.
Can those of you out there that deal with intercompany charges please let us know of a better way?
We’re thinking of controlling this at the vendor level by defining a category for each IC vendor and changing the "Accts Payable" account from our normal trade payable account to the vendor’s IC account. That’s great for when the #’s roll up into the divisional Hyperion consolidation system, but how do we direct SL to skip printing the checks?
We also want the liability to come off of the AP aging report?
SL 5.02.10 / Progress 9.1E.
We really appreciate your help,
Jim
Jim Cove
Business Systems Analyst
Wyman Gordon, A PCC Company