Thanks, That was the form of logic we were looking at. At least I know I was on the right track.
Kent
To: vantage@yahoogroups.com
From: CSmith@...
Date: Tue, 28 Feb 2012 10:31:12 -0500
Subject: RE: [Vantage] Multi Site Paying source Co without cash
I'm not sure I like that response. Sorry Manasa.
What I think will need to happen is:
* Both companies will need to set up a bank account that points
to an intercompany account rather than cash. Cash Receipts and Payments
would use those bank accounts and would be set up as the default bank
account for the customer and supplier.
* The selling company will want to set up an intercompany AR
account.
* The buying company will want to set up an intercompany AP
account.
o This keeps the cash from hitting the cash accounts and separates the
Trade AR and AP from the intercompany.
* The selling company will probably have to set up a product
group for intercompany sales that points to a separate sales account for
intercompany sales. This will separate the trade sales from the
intercompany sales.
* The buying company should not have to do anything different on
the expense side. The expense is the expense.
________________________________
After that treat everything as normal.
* Company A: Create a PO
* Company B: Create a Sales Order. Use the intercompany product
group.
* Company B: Manufacture-Buy-Ship the product.
* Company B: Invoice Company A. (+AR Intercompany)
* Company B: Create Cash Receipt using Intercompany Bank
Account. (-AR Intercompany + Intercompany GL Acct)
________________________________
* Company A: Receive PO
* Company A: Receive and enter invoice (-AP Intercompany)
* Company A: Make Payment to Company B using Intercompany Bank.
(+AP Intercompany - Intercompany GL Acct)
The Intercompany ledger account then becomes a wash when consolidated.
This is quickly off the top of my head and if anyone wants to
expand/correct it. Feel Free.
Charlie Smith
2W Technologies LLC, Sr. Business Consultant
Phone: (312) 533-4033 x8046
(860) 620-9553
Fax: (847) 374-3620
2W Tech on Facebook
<http://www.facebook.com/pages/Chicago-IL/2W-Technologies-LLC/1391945694
32409> www.2WTech.com <http://www.2wtech.com/>
From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf
Of Manasa Reddy
Sent: Tuesday, February 28, 2012 8:08 AM
To: vantage@yahoogroups.com
Subject: RE: [Vantage] Multi Site Paying source Co without cash
Sell it to parent company at zero dollars (or whatever currency).
M. Manasa Reddy
manasa@... <mailto:manasa%40weldcoa.com>
<mailto:manasa@... <mailto:manasa%40weldcoa.com> >
630.806.2000 x1515
Ex scientia, vera
________________________________
From: vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com>
[mailto:vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com> ] On
Behalf Of krrooen25
Sent: Tuesday, February 28, 2012 8:05 AM
To: vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com>
Subject: [Vantage] Multi Site Paying source Co without cash
Parent company buys manufatured part from source company. We want Parent
to pay child without cash and clear out Customer Aging on the source
Company. We have not found any Epicor Documentation on how to set this
up.
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From:
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om
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oups.yahoo.com>
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Kent
To: vantage@yahoogroups.com
From: CSmith@...
Date: Tue, 28 Feb 2012 10:31:12 -0500
Subject: RE: [Vantage] Multi Site Paying source Co without cash
I'm not sure I like that response. Sorry Manasa.
What I think will need to happen is:
* Both companies will need to set up a bank account that points
to an intercompany account rather than cash. Cash Receipts and Payments
would use those bank accounts and would be set up as the default bank
account for the customer and supplier.
* The selling company will want to set up an intercompany AR
account.
* The buying company will want to set up an intercompany AP
account.
o This keeps the cash from hitting the cash accounts and separates the
Trade AR and AP from the intercompany.
* The selling company will probably have to set up a product
group for intercompany sales that points to a separate sales account for
intercompany sales. This will separate the trade sales from the
intercompany sales.
* The buying company should not have to do anything different on
the expense side. The expense is the expense.
________________________________
After that treat everything as normal.
* Company A: Create a PO
* Company B: Create a Sales Order. Use the intercompany product
group.
* Company B: Manufacture-Buy-Ship the product.
* Company B: Invoice Company A. (+AR Intercompany)
* Company B: Create Cash Receipt using Intercompany Bank
Account. (-AR Intercompany + Intercompany GL Acct)
________________________________
* Company A: Receive PO
* Company A: Receive and enter invoice (-AP Intercompany)
* Company A: Make Payment to Company B using Intercompany Bank.
(+AP Intercompany - Intercompany GL Acct)
The Intercompany ledger account then becomes a wash when consolidated.
This is quickly off the top of my head and if anyone wants to
expand/correct it. Feel Free.
Charlie Smith
2W Technologies LLC, Sr. Business Consultant
Phone: (312) 533-4033 x8046
(860) 620-9553
Fax: (847) 374-3620
2W Tech on Facebook
<http://www.facebook.com/pages/Chicago-IL/2W-Technologies-LLC/1391945694
32409> www.2WTech.com <http://www.2wtech.com/>
From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf
Of Manasa Reddy
Sent: Tuesday, February 28, 2012 8:08 AM
To: vantage@yahoogroups.com
Subject: RE: [Vantage] Multi Site Paying source Co without cash
Sell it to parent company at zero dollars (or whatever currency).
M. Manasa Reddy
manasa@... <mailto:manasa%40weldcoa.com>
<mailto:manasa@... <mailto:manasa%40weldcoa.com> >
630.806.2000 x1515
Ex scientia, vera
________________________________
From: vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com>
[mailto:vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com> ] On
Behalf Of krrooen25
Sent: Tuesday, February 28, 2012 8:05 AM
To: vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com>
Subject: [Vantage] Multi Site Paying source Co without cash
Parent company buys manufatured part from source company. We want Parent
to pay child without cash and clear out Customer Aging on the source
Company. We have not found any Epicor Documentation on how to set this
up.
size=2 width="100%" align=center>
Total Control Panel
Login<https://asp.reflexion.net/login?domain=weldcoa.com>
To: manasa@... <mailto:manasa%40weldcoa.com>
<https://asp.reflexion.net/address-properties?aID=516126014&domain=weldc
oa.com>
From:
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om
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oups.yahoo.com>
<https://asp.reflexion.net/address-properties?aID=570189437&domain=weldc
oa.com>
Message Score: 1
High (60): Pass
My Spam Blocking Level: Low
Medium (75): Pass
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