Consider a business with two Fincos, one for their projects and one for their plant operations.
The following needs to be configured to provide the basis of the intercompany postings.
On each Financial Company:
Inter Company GL Account - the account used to record values relating to other Fincos
Inter-Co Job - the interco AR and AP Invoices use this job
Inter-Co Activity - the interco AP Invoices use this activity
Inter-Co Selling To Client- the interco AR invoice is on the client
Inter-Co Buying From Supplier - the interco AP invoice is on the supplier
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.
