Step 1: Copy/Create New
companies:
In order to
begin this setup, you need to either create a new company or in this case, copy
your current company as another.
·
Search
‘Companies’
·
Highlight
desired company you wish to copy and click ‘Copy’ in the Home ribbon.
o
Enter
your new company name e.g ‘Cronus Distribution’
o
Click
Ok
o
The
new company will now be created
Step 2: Setup Companies
for intercompany transactions
·
Go
to ‘Company Information’ and setup the Intercompany Partner Code, IC Inbox Type
·
IC Partner Code: This is the Code each company must have and must be unique, for example
Company CRONUS13X is given the IC Partner Code ‘CRONUSLX’ (in the LSCentral1304
vm)
·
IC Inbox Type:
Select Database. File Location allows for manual export/imports of intercompany
transactions. Database sends it directly to the other company, no exports
needed.
·
IC Inbox Details: Only required if File Location is selected.
·
Auto Send Transactions: Yes. If unchecked, this would allow the sending company to push the
transaction using the “Intercompany Outbox Transactions” and accepted on the
other company using “Intercompany Inbox Transactions”. This is avoided by
checking the box.
·
This
needs to be done for all companies.
Step 3: Setup Intercompany
Partners
·
Go
to ‘Intercompany Partners’
·
Click
New
·
Put
in the other company IC Partner Code in the Code field
·
Select
currency
·
Transfer type:
Database
·
Company Name:
Select company for this IC partner
·
Auto Accept Transactions: Check if you do not want to vet the documents in the Intercompany
Outbox/Inbox Transactions page and would like the transactions to integrate to
the other companies automatically.
·
Customer No: Select
a customer code for this IC Partner if necessary (You need to create a new IC
Partner Customer Card for this)
·
Select
Receivables Account
·
Outbound Sales Item No Type: Internal No.
·
Vendor No:
Select IC vendor and select Payables account.
·
Outbound Purch. Item No Type: Internal No.
Step 4: Setup Intercompany
Chart of Accounts
In order
for a group of companies to make intercompany transactions, they must agree on
a chart of accounts to use as a common reference.
·
Go
to ‘Intercompany Chart of Accounts’
·
Enter
each account on a line in the window
·
If
the intercompany chart of accounts will be identical or similar to your regular
chart of accounts, you can fill in the window automatically by choosing ‘Copy
from Chart of Accounts’ action. You can edit the new lines as needed.
Step 5: Ensure General
Posting Setups are correct
Based on
your Gen. Bus. Posting Group and Gen Prod. Posting Group selected
for your IC Customer/Vendor Card you need to ensure this is reflected in the
General Posting Setup of each company namely the Purchase Variance Account
and Direct Cost Applied columns.
Post Sales Orders:
·
Enter
the IC Customer No
·
Fill
in Sales order details
·
Before
posting you can go to Actions> Send IC Sales Order. This will send the order
as a Purchase Order to the desired IC Partner’s company.
·
When
opening the Purchase Order before posting in the partner company, fill in the
original sales order number of the sending company in the ‘Vendor Invoice No’
field.
Post Purchase Orders:
·
Enter
IC Vendor No
·
Fill
in Purchase Order details
·
Leave
the ‘Vendor Invoice No’ blank for now
·
Go
to Actions>Send Intercompany Purchase Orders
·
Switch
to the receiving company in BC and locate the Sales Order Number. Fill in the
Sales Order number in the Purchase Order ‘Vendor Invoice Invoice No’ in the
sending company.
·
You
can now post both transactions as needed on either company when the orders is
fulfilled.
Post IC General Journals:
·
Go
to ‘Intercompany General Journal’
·
Fill
in the fields as necessary
·
In
the ‘IC Partner G/L Acc. No.’ field enter the Intercompany General Ledger
Account that the amount will be posted into your partner’s company. This can be
setup as a default by going to the Chart of Account card for each company and
entering this field.
·
Click
Post
·
This
is now going to create a couple line entries in the other company. Switch to
the receiving company in Business Central and go to ‘Intercompany Inbox
Transactions’.
o
Select
the appropriate lines to send to the Intercompany General Journal Template
o
Select
‘Accept’ in Line Action column
o
Click
‘Complete Line Actions’ and a popup screen will then need to be filled in with:
o
IC Gen. Journal Template = INTERCOMP
o
Gen Journal Batch = DEFAULT
o
Starting Document No = This should default based on No series setup
o
You
can change the posting date if necessary by checking ‘Replace Posting Date’ and
entering the desired date
o
Filter
on where Line Action = Accepted.
o
Click
Ok
o
Your
journal lines in the receiving company is now transferred to the Intercompany
General Journal. You can now access there and post.
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