Shared Transactions Intercompany Setup
Shared Transactions supports intercompany across both tiers.
Standard Tier: Intercompany allocations are available for all supported transaction types.
Premium Tier: Offers additional features including intercompany billing and shared payments.
Overview
Shared Transactions enable intercompany allocations.
The key difference between intracompany and intercompany allocations is the scope of the allocation:
- Intracompany allocations occur within a single subsidiary, distributing amounts across departments, classes, or locations.
- Intercompany allocations involve multiple subsidiaries, allocating amounts outside the original subsidiary.
Step-by-step process
Follow the steps below to verify that your system is set up correctly for intercompany.
- Verify that intercompany is enabled for your Shared Transactions license.
- Navigate to Netgain > Setup > System Setup, then open the Shared Transactions License subtab.
- Under Shared Transaction Enabled Modules, verify that the checkbox labeled Enabled Intercompany is checked. If not checked, reach out to Netgain.
- Input your Intercompany Receivables and Payables accounts.
- Navigate to the Shared Transactions Settings subtab.
- Under Default Intercompany Accounts, select the appropriate intercompany account for the Receivables Account and the Payables Account:
Shared Transactions supports only one Intercompany Payable account and one Intercompany Receivable account. These accounts apply to all subsidiary combinations, regardless of the subsidiaries involved in each transaction.
3. Verify that representing entities (intercompany customers and vendors) exist for each subsidiary involved in intercompany transactions.
