Shared Transactions - Automatically Creating Customer Payments - Intercompany Vendor Bill Automation
Overview
Intercompany Vendor Bill Automation streamlines the reconciliation process by automatically creating and applying a customer payment to the related intercompany invoice when a vendor payment is applied to an intercompany vendor bill. The following walkthrough outlines how this process works.
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Prerequisites
- Intercompany Vendor Bill Automation should already be configured to automatically generate a vendor bill in response to an intercompany invoice.
Step-by-Step Process
- Navigate to Transactions > Payables > Pay Single Vendor.
- Select the appropriate Payee, then locate and select the corresponding intercompany bill for payment application.
- Enter the Payment amount, then Save the Bill Payment record:
- Once the Bill Payment is created, navigate to the intercompany bill. The applied payment will be visible under the History subtab within the Payments sublist:
- Next, navigate back to the intercompany invoice. Under the History subtab in the Payments sublist, the Intercompany Vendor Bill Automation feature will have automatically created and applied a corresponding Customer Payment between the related entities:
Once the full amount has been paid, both the intercompany invoice and the corresponding intercompany bill will be marked as Paid in Full.