SimCrest enhanced intercompany for NAV allows a user to enter an intercompany transaction in a single company and create complete, balancing transactions in two or more companies upon posting. SimCrest intercompany functionality automatically creates the due-to and due-from entries in each company eliminating the need for an intercompany inbox and outbox like you need to use in the standard Intercompany functionality that comes with Dynamics NAV. When a user with the appropriate permissions posts an intercompany transaction in one company the corresponding intercompany entries for all companies are created and posted simultaneously.
The General Journal below is a simple example of expense being transferred from one company to another. In this example the first journal line has the field “IC Company Name” populated which defines it as an intercompany line and will result in the transfer of $500 to the company CRONUS USA, Inc. account 64200. The second journal line defines where the cost will be transferred from in the company the user is posting in (the “from” company).
The posted entry in the “from” or originating company is shown below. The “to” or destination company is shown. The due-from account (13340) is also shown. This side of the transaction was auto-created from intercompany setup information.
The posted entry in the “to” or destination company is shown below. The entry in the destination company shows both the “to” and the “from” company names. The due-from entry was auto-created in the destination company from intercompany setup information. See below for more information on the intercompany setup.
InterCompany Setup allows for user-defined setup of all due-to and due-from accounts. Each company can have a different Due-to and Due-from account for each company it has intercompany transactions with or they can be the same. In this example CRONUS II uses the same GL account for both Due-from and Due-to entries with Cronus USA, Inc. As you can see, both companies use the one account for all intercompany transactions; however, a more complex setup can also be accommodated.
SimCrest Intercompany is limited to companies that are contained within a single NAV database. G/L Account transactions are currently supported.
If you would like more information about SimCrest Enhanced InterCompany please don't hesitate to contact us.