Reconciliations between companies

Reconciliations between companies

Accounting/Reports/Intercompany reconciliations

Internal reconciliations is a tool to check internal dealings. For example, you can see if an invoice from company A has arrived in company B and if the remaining amount is the same. You can also see liabilities and receivables between companies booked on special balance sheet accounts and internal dealings. Internal sales are client invoices without VAT and internal purchases are suppliers' invoices without VAT.

You need the following settings before you can get started:

1.	Check the parameter "Show in Intercompany reconciliation" on the company in Base registers/General/Companies under the tab Other.
2.	Tag clients and suppliers with Counterpart in Base registers/SL/Clients and in Base registers/PL/Suppliersrespectively. Example: Supplier A in companies B and C shall be tagged with Counterpart A. The tag enables finding suppliers' invoices and client invoices as well as internal dealings.
3.	If internal dealings shall be handled,(shown as G/L Trade debtors and creditors in the report) you will have to also mark balance sheet accounts with counterparts in each company.

At the reconciliation, one company shall be selected as "Company From" A and the other one as "Counterpart" B. The currency shall be the base currency. What company you choose where and what you are in when doing this is irrelevant.

If you find discrepancies in the list, you can open the row and see details, i.e. invoices that differ etc.