For Example a bill comes in from a Vendor - the vendor bills Co A 1000.00; they want their 1000.00.
Co A needs to split the bill to several companies:
Co A will pay the vendor the 1000.00, but will split it to Co A, B & C:
If you have the IC setup this is how it goes:
Enter the A/P transaction in Co A, select the IC box on the Transaction Entry window ( we have it at the top)
Enter the key information - Vendor, date, Invoice, full amount - 1000.00
On the Distribution Tab:
The Default is the current Company
Change the amount to 500.00
Next line pick the Co ID box, hit the spy glass for the available IC IDs - pick Co B - enter the Account No. you want to use for Co B (not the IC account number) - enter 250.00
Next line do the same thing - 250.00 as the amount.
Your A/P trans is in balance in Co A and your pay the vendor from Co A.
The system will generate the IC transactions:
Co A
Dr the IC account in Co A each of the 250.00 entries, Dr the Co A account for 500.00 and Cr the A/P account for 1000.00
Co B
Dr the account selected in the original transaction; Cr the IC account
Co C
Dr the account selected in the original transaction; Cr the IC account
I try to keep the IC accounts the same in my companies. I have 7. This eliminates the need to manually post transactions, if there are a lot and someone drops the ball, it's a lot of work to figure out.
If they have only a minimal number then do it manually. or swap the cash.
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