EC Intercompany Business Concept
- Former user (Deleted)
- Maria Harreguy
Example
Home-Company :   1-NZ           Employee : Joe                 Job : 1234 (GLabcNZ)                           Airfares $400+GST (15%)
                                                                                                  Inter-Job : IC2 (GLinterNZ)
                                                                                                 Creditors (GLcredNZ)                           GST (GLgstNZ)
Away-Company :     1-AUS                                                    Job : 3456 (GLabcAUS)                        Airfares $200+GST (15%)
                                                                                                 Inter-Job : IC9 (GLinterAUS)
                                                                                                 Creditors (GLcredAUS)                         GST (GLgstAUS)             Â
Employee :Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Joe
Only the GST incurred in the Country of the Home-Company is Claimable. In this example all the Airfares were paid in NZ.
Result of processing the Claim is :
Expense Claim in Home-Company | Home-Company | Away-Company |
|---|---|---|
Accounts Payable Invoice for Joe $690 (incl $90 GST 15%) | Job 1234Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â +$400 Job IC2Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â +$200 | Job 3456Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â +$200 Job IC9Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â -$200Â Â Â Â |
  The example assumes a foreign currency translation of 1. If it were AUD-1 : NZD-1.25 the Cost in the Away-Company would be $160.