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Inter Company module - Nominal Ledger Transactions between Companies

If you using the Inter Company module, you can specify that creating a Nominal Ledger Transaction in one Company will cause a consequent Transaction in a second Company to be created automatically. The Transaction in the second Company will be created when you post to a particular Account or to a particular Account/Object combination in the first Company. Examples might be transfers of funds between bank accounts or the payment of rent.

In this section, this process will be described using an example in which a Nominal Ledger Transaction in Company 1 will cause a consequent Transaction to be created in Company 2 automatically. The example assumes that the necessary Accounts and Tags/Objects have already been created in both Companies.

If you are using this feature, it is recommended that you use different Number Series for your Transactions in the two Companies.

The only configuration required is to create a new record in the Inter Company Transactions Rules setting in Company 1 (i.e. in the Company in which you will create the original Nominal Ledger Transactions). In this record, you should specify the Account or Account/Object postings that will trigger the creation of Transactions in the second Company. You should also specify the Accounts or Account/Object combinations that will be used in the Transactions in the second Company. The Inter Company Transactions Rules setting can be found in the Inter Company module, and it will also be added to the Nominal Ledger when the Inter Company module is enabled.

In the example illustrated above, entering a debit posting in Company 1 to Account 400 with Tag/Object IC1_2 will cause a Nominal Ledger Transaction to be created automatically in Company 2 that credits Account 13000 and debits Account 74000. The Tag/Object IC1_2 will be assigned to both postings, and the Text in the Transaction will be "Office Rent (created automatically)".

Use the fields in the top half of the window to specify the Account or Account/Object combination that will trigger the creation of the Transactions in the second Company:

From Account
Paste Special    Account register, Nominal Ledger/System module
Specify the Account that should act as the trigger for the creation of Transactions in the second Company.

Name
The Account Name will appear here when you specify a From Account in the field above.

Tags/Objects
Paste Special    Tag/Object register, Nominal Ledger/System module
If you leave this field empty, every posting (depending on the Side option below) to the From Account will trigger the creation of a Transaction in the second Company. If you specify a Tag/Object here, Transactions in the second Company will only be created from postings to the From Account with that Tag/Object. A posting with several Tags/Objects including the one specified here will not cause a consequent Transaction to be created: if you will use the Tag/Object in combination with others, enter separate records to this setting for each Tag/Object combination, separating the Tags/Objects using commas.

Type
Paste Special    Choices of possible entries
You can post to the From Account in a Nominal Ledger Transaction that you enter to the Transaction register yourself, and you can do so in Transactions created from Invoices, Purchase Invoices, Receipts and Payments. Specify here which type of Transaction should cause Transactions to be created in the second Company.

If you choose an option other than "N/L Transaction", bear in mind that any related sub-system information will not be transferred to the second company. For example, if you choose "Payment", entering a Payment and marking it as OK in one Company will cause a Nominal Ledger Transaction to be created in the same Company as normal and a corresponding Transaction to be created in the second Company. This second Transaction will not contain any information about the Invoice being paid, so the Sales Invoice in the second Company will remain open.

Side
Use these options to specify whether debit or credit postings to the From Account should trigger the creation of Transactions in the second Company.
Use the remaining fields in the window to specify the Company in which the corresponding Transactions will be created, and the Accounts and Tags/Objects that will be used in those Transactions:
To Account
Specify here the first Account that will be used in the consequent Transaction. The posting to this Account will be on the opposite side to the posting to the From Account. For example, if a debit posting to the From Account triggered the creation of the consequent Transaction, the To Account will be credited in that Transaction.

If both Companies use the same Chart of Accounts, you can choose the To Account using 'Paste Special' and the Account Name will be brought into the next field. If the Companies use different Charts of Accounts, enter the Account and Account Name yourself without using 'Paste Special'.

Name
Enter the name of the To Account here. This name will be copied to the Description in the row posting to the To Account, so you should not leave this field blank.

To Tags/Objects
If you would like a Tag/Object to be assigned to the posting to the To Account, specify that Tag/Object here. You can enter several Tags/Objects separated by commas.

As with the To Account, if both Companies use the same Tags/Objects, you can choose the To Tag/Object using 'Paste Special'. If the Companies use different Tags/Objects, enter the Tag/Object yourself without using 'Paste Special'.

To Compan