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MEM Intercompany Setup
Use this page to set up different sets of Due To and Due From accounts based on the account type (credit or debit) of the original transaction.
Note: You also have the option to set up different sets of Expense and Revenue accounts if the Intercompany Setup Type option is set to Expense/Revenue Accounts.
Note: You might require permission to access the setup pages and perform set up tasks. For assistance, contact your system administrator.
If you use additional dimension, you can set up intercompany for the additional dimensions on the Multi-Entity Management Setup and MEM Additional Intercompany Setup pages.
For examples, see Intercompany: Examples.
Set Up Intercompany
To set up the intercompany distribution account mappings, follow these steps:
- Select the Originating entity and the Destination entity.
- In the Due To and Due From Accounts Information area, specify the Due To and Due From accounts for both the originating and destination entities. The destination entity selected must be different from the originating entity.
- Alternatively, if the Intercompany Setup Type option is set to Expense/Revenue Accounts, specify the Expense and Revenue Account information.
- Repeat these steps to set up the accounts for other originating-destination entity combinations.
Caution: If the same General Ledger account is used for multiple intercompany distribution account mappings, the MEM Trial Balance might not work as expected because Multi-Entity Management uses the General ledger balance as a total.
Delete Intercompany
To delete the intercompany distribution account mappings, follow these steps:
- Select the Originating entity and the Destination entity.
The destination entity selected must be different from the originating entity. - In the Due To and Due From Accounts Information area, delete the accounts that you do not want.
- Alternatively, if the Intercompany Setup Type option is set to Expense/Revenue Accounts, delete the Expense/Revenue accounts that you no longer want.
- Repeat these steps to set up the accounts for other originating-destination entity combinations.
Fields
The following field boxes are available:
Field | Description |
Originating |
Select the |
Destination |
Select the entity for the destination of intercompany transactions . |
Intercompany Setup Type |
Specifies which intercompany setup to be configured. Options:
Note: This field will only be visible when the “Intercompany Sales with Drop Ship" setting is enabled in the MEM Multi-Entity Management Setup window. |
Due To and Due From Accounts Information | |
Originating Due To and Due From |
Displays the description of the Due To or Due From account selected. Due To Select the account to be used for the originating Due From Select the account to be used for the originating To set up other entities and dimensions to use the same Due To or Due From accounts, select the ellipses button and complete the Edit Dimension Set Entries dialog page. |
Destination Due To and Due From |
Displays the description of the Due To or Due From account selected. Due To Select the account to be used for the destination Due From Select the account to be used for the destination To set up other entities and dimensions to use the same Due To or Due From accounts, select the ellipses button and complete the Edit Dimension Set Entries dialog page. |
Intercompany Dropship Expense & Revenue Accounts Information | |
Originating Expense Account |
Expense Account Code Select the account code to be used for posting expenses for the originating entity during the Sale with Drop Ship process. Expense Account Name Displays the name of the Expense account. To set up other entities and dimensions to use the same Expense or Revenue accounts, select the ellipses button and complete the Edit Dimension Set Entries dialog page. Note: To import the existing expense and revenue accounts through configuration package, refer to the Import IC Expense & Revenue Setup window. |
Destination Revenue Account |
Revenue Account Code Select the account code to be used for posting revenue for the originating entity during the Sale with Drop Ship process. Revenue Account Name Displays the name of the Revenue account. To set up other entities and dimensions to use the same Expense or Revenue accounts, select the ellipses button and complete the Edit Dimension Set Entries dialog page. Note: To import the existing expense and revenue accounts through configuration package, refer to the Import IC Expense & Revenue Setup window. |
Edit Dimension Set Entries
Use this dialog page to add other dimensions to use common Due To and Due From accounts for transactions where MEM intercompany journal entries are created. This setup allows you to keep track of each intercompany payables or receivables transaction without having to create too many Due To and Due From accounts for each pair of entities. View example.
Actions
This page contains the following actions:
Button | Description |
Import |
Allows you to select a file for importing existing Due To and Due From accounts. For file format information, see Import Intercompany Setup.
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