Consider a business with two Fincos, one for their projecting projects and one for their plant operations.
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The following needs to be configured to provide the basis of the intercompany postings.
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On each Financial Company:
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Inter Company GL Account - where the account used to record values relating to other Fincos
Inter Company Job -
Inter Company Activity
Inter Company Client
Inter Company Supplier-Co Job - the interco AR and AP Invoices use this job. Each Finco must have its own Intercompany Job. For example, for fincos 01, 02, 03, there will be a ZIC01 job, a ZIC02 job and a ZIC03 job. Z so the Job appears at the bottom of the Jobs list, IC for Inter Company, 01 to reference the finco Code.
Inter-Co Activity - the interco AP Invoices use this activity. Same activity can be used on all Fincos. It is an activity with Type = Internal.
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Inter-Co Selling To Client- the interco AR invoice is on the client. Tipically the same company is used and flaged as a Supplier and a Client for each Finco.
Inter-Co Buying From Supplier - the interco AP invoice is on the supplier. Tipically the same company is used and flaged as a Supplier and a Client for each Finco.
Reciprocal Code on the GST Types:
When creating an intercompany AR Invoice, the system will use the reciprocal GST type from the AP Invoice’s GST type.
Failing to populate these reciprocal Codes might cause the Intercompany AR invoice not created.
Note:
When there is no suffix set up in the Inter Company GL Account on Workbench, the suffix defaults to Subaccount 0 when processed in MYOB Adv.
MYOB Adv expects a valid Subaccount to be manually set up if it does not exist already.
Tests can be done on MYOB Adv as creating a new Invoice entry does not automatically save.
Control Parameter
The new intercompany process is enabled by setting the "Legacy Inter-Company Process" control parameter to No. This is the default value on all new databases.
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