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Forums Financial Management Lawson S3 Financials

Intercompany accounts building - do you "settle/reconcile" them?

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Maria
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10/16/2008 1:48 PM
Do you all do anything about your intercompany accounts continuing to build?  I know at the top level they net to zero, but if we run finanacials on just on company or a few the intercompany amounts on the balance sheet are very large.

Do any of you try to "settle" or "reconcile" them?  If you make  a je to reverse them then the system also reverses in the background when zone balancing and the amounts become the opposite sign.  We could turn zone balancing off and then clear them, but is that an acceptable practice?
DeAnna
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10/30/2008 3:18 PM
We actually wire/transfer the actual cash payments/receipts and use the CB system to record those transfers which will adjust your intercompany balances
Maria
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10/30/2008 3:28 PM
You are a life saver! Thank you for the response. We are thinking of that as an option too but some of our intercompany transactions are not actually cash related. Are you able to distinguish the difference in yours?
Can we set up a time to talk over the phone today or tomorrow if possible? I'm in accounting at OSI (Outback Steakhouse) home office in Tampa, 813-282-1225 x1131 Maria