When we were in our sales process last year, we identified that we
would want functionality in AR similar to what Vantage provides out of
the box for AP in terms of centralized payment. The basic idea was that
we could process our cash receipts in our centralized CORP company, do a
single bank reconciliation against our single account, and have the CORP
invoices linked against the subsidiary company ones so we could mark
them for payment. We weren't particularly specific on how this would
work, but the Epicor sales team indicated we could do this via Service
Connect.
Many months, some project team transitions, and a lot of complaining
later, we've finally been presented with a proposal for this
customization, the cost for which would exceed what we paid for Vantage
in the first place. Obviously we're going to have a heart to heart with
our account team. But this leads me to ask this question.
For folks who are in a "multiple company" situation, how are you
handling AR? Obviously folks must be doing receipts directly into the
company where the invoice is generated. How are you handling bank
recs? Do you have a separate cash account for each subsidiary? Other
details that are important?
My finance folks are left scratching their heads thinking "We're not
doing anything particularly strange or elaborate here. How is it that
we're pushing the envelope with this requirement?".
-bws
--
Brian W. Spolarich ~ Manager, Information Services ~ Advanced Photonix /
Picometrix
bspolarich@...
<mailto:bspolarich@...> ~ 734-864-5618 ~
www.advancedphotonix.com <http://www.advancedphotonix.com>
[Non-text portions of this message have been removed]
would want functionality in AR similar to what Vantage provides out of
the box for AP in terms of centralized payment. The basic idea was that
we could process our cash receipts in our centralized CORP company, do a
single bank reconciliation against our single account, and have the CORP
invoices linked against the subsidiary company ones so we could mark
them for payment. We weren't particularly specific on how this would
work, but the Epicor sales team indicated we could do this via Service
Connect.
Many months, some project team transitions, and a lot of complaining
later, we've finally been presented with a proposal for this
customization, the cost for which would exceed what we paid for Vantage
in the first place. Obviously we're going to have a heart to heart with
our account team. But this leads me to ask this question.
For folks who are in a "multiple company" situation, how are you
handling AR? Obviously folks must be doing receipts directly into the
company where the invoice is generated. How are you handling bank
recs? Do you have a separate cash account for each subsidiary? Other
details that are important?
My finance folks are left scratching their heads thinking "We're not
doing anything particularly strange or elaborate here. How is it that
we're pushing the envelope with this requirement?".
-bws
--
Brian W. Spolarich ~ Manager, Information Services ~ Advanced Photonix /
Picometrix
bspolarich@...
<mailto:bspolarich@...> ~ 734-864-5618 ~
www.advancedphotonix.com <http://www.advancedphotonix.com>
[Non-text portions of this message have been removed]