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Groups of companies regularly transfer funds between bank accounts but there is no way of doing so in the Intercompany General Journals. You can specify Bank Account on one side of the transaction but can only push to a GL Account on the other side. Meaning you then have to manually journal from a GL Account to a Bank Account in that company - this makes the intercompany functionality somewhat redundant in those situations.

The Intercompany General Journal only has an Intercompany Partner G/L Account No. this should be extended to have an Intercompany Partner Type (G/L Account/Bank Account etc) and then allow you to specify a G/L Account No. or Bank Code for the Intercompany partner.

This will also require some method of setting up a list of Bank Account Codes against Intercompany partners
STATUS DETAILS
Under Review
Ideas Administrator

Thank you for your feedback. Currently this is not in our roadmap; however, we are tracking it and if we get more feedback and votes, we may consider it in the future. 

 

Sincerely, 

Theresa Nistler

PM, Microsoft 


Comments

S

Hi PM,

not only the bank account, but we are also having issues with the vendor as well.
(If company A will make expenses then how company B will make the payment to the vendor on behalf of company A)

Category: Financial Management