Entering Intercompany Transactions
Use the Enter Intercompany Transaction window to enter, update, approve, or reject intercompany transactions. You can also mark transactions to be deleted.
Additional Information: The sending and receiving subsidiary do not have to share the same chart of accounts.
Prerequisites
Define your CENTRA subsidiaries.
Define a responsibility for each of your CENTRA subsidiaries and have your system administrator set the transaction security for each responsibility.
Define your subsidiaries' intercompany clearing accounts.
(Sender) To enter an intercompany transaction:
1. Choose the General Ledger responsibility of the CENTRA subsidiary for which you want to enter intercompany transactions.
Note: You can only enter intercompany transactions for a subsidiary if your system administrator has set up access to the subsidiary from your responsibility.
You can only submit transactions for the subsidiary that is associated with your responsibility.
2. Navigate to the Find Transactions window, then choose New. The Enter Intercompany Transaction window will appear and General Ledger will automatically set the Status to New.
3. (Optional) Enter a transaction Number if you have not enabled automatic transaction numbering. Each transaction number must be unique to the CENTRA system in which you are entering the transaction.
4. Enter or select the Receiver. This is the name of the CENTRA subsidiary who is the other party to your intercompany transaction.
Note: General Ledger automatically enters your subsidiary name in the Sender field.
5. Enter the GL Date to use for recording the transaction. The system will automatically enter the appropriate Period for the Sender and Receiver.
(Optional) Enter the sender's accounting Period. The system will automatically enter the last day of the period as the GL Date and will enter the same period for the receiver.
6. Enter a transaction Type or select one from the list of values.
7. (Optional) Change the Currency if you want to use something other than your functional currency for the transaction.
8. (Optional) Enter a transaction Description.
9. (Optional) Enter a Control amount. If entered, the amount must be the same as the amount calculated for your clearing account.
10. (Optional) Enter a Note.
11. Select Sender from the poplist, then enter your intercompany transaction journal lines.
12. (Optional) Select Receiver from the poplist, then enter the receiving subsidiary's intercompany transaction journal lines.
Note: When creating an automatically approved transaction, you must enter the receiver's intercompany transaction journal lines.
13. Choose Submit to send the intercompany transaction to the CENTRA system for approval. Optionally, if you are entering an automatically approved transactions, choose the Approve button.
To update a previously submitted intercompany transaction:
1. Navigate to the Find Transactions window.
2. Enter your transaction query information. You can search for a transaction based on the transaction Number, Status, Sender, Receiver, transaction Type, or Currency. You can narrow your search by entering ranges of GL Dates and Approved Dates. Finally, you can also enter the transaction Control amount.
Additional Information: If your subsidiary has parent privileges, you can query transactions for any subsidiary. Otherwise, you can only query transactions for which your subsidiary is the sender or receiver.
3. Choose the Find button to search for matching transactions. To enter new query information, choose the Clear button.
The Enter Intercompany Transaction window will appear, displaying the first matching transaction found.
4. (Sender only) If the transaction's status is Review, choose the Recall button. The status will change back to New.
5. Modify the transaction details and amounts on the Enter Intercompany Transaction window.
Additional Information: If the transaction status is Approved, you can only modify the Note.
Note: If you are the receiving subsidary, you cannot modify the sender's accounts or amounts.
6. (Sender) When you are done making changes, choose the Submit button to save your work and submit the transaction to CENTRA. Optionally, if you are entering an automatically approved transactions, choose the Approve button.
7. (Receiver) When you are done making changes, choose Approve to save your work and approve the transaction. Optionally, choose the Reject button to reject the transaction.
(Receiver) To approve or reject an intercompany transaction:
1. Navigate to the Find Transactions window.
2. Enter your transaction query information.
3. Choose the Find button to search for matching transactions.
The Enter Intercompany Transaction window will appear, displaying the first matching transaction found.
4. Review the transaction information that was sent by the other subsidiary for approval.
To approve the intercompany transaction:
- Select Receiver from the poplist, then enter your subsidiary's intercompany transaction journal lines.
To reject the intercompany transaction:
Suggestion: Use the Note field to enter your reason for rejecting the transaction.
Note: You cannot reject a transaction that was automatically approved by the sender.
(Sender) To mark an intercompany transaction for deletion:
Use these steps to mark a transaction whose status is Review or Rejected for deletion. Note: These steps do not delete approved transactions. See: Deleting Approved Intercompany Transactions.
1. Navigate to the Find Transactions window.
2. Enter your transaction query information.
3. Choose the Find button to search for matching transactions.
The Enter Intercompany Transaction window will appear, displaying the first matching transaction found.
4. Choose Delete. The transaction will be deleted the next time you run the Intercompany Transfer Program.
Note: You can only delete a transaction if its status is New or Rejected.
See Also
Entering Intercompany Transaction Journal Lines
Defining Recurring Intercompany Transactions
Reversing Approved Intercompany Transactions
Deleting Approved Intercompany Transactions
Running the Intercompany Transfer Program
CENTRA Overview
Defining CENTRA Subsidiaries
Defining Intercompany Transaction Types
Specifying Intercompany Clearing Accounts
