Hi,

We want to transfer, every month, a fixed amount to another company from the company where a particular expenses are entered.

Presently, It is handled through manual entries. We like to do automatically, if possible.

In Schedule of Automatic transation, transfer can be done within the company.

Is there any way to create automatic transaction between companies.

If you have any other idea, pls. give a hints to me.

Thanks in advance.
Kumaresan

Hello,

If the company incurring the expenses is related to your company then you can setup expenses as an inter company trasaction. In suppliers, you may want to indicate them as intercompany, and if consolidation / reporting is required you may seek to map to group company. Use Intercompany transaction processing, for such transactions.

If the company is not related, and this scenario is likely to recurr often, then you can setup Purchase Contract for a fixed amount, creating an item called "non-inventory expenses" and have the same amount recurring each month. Thus, only the prescribed amount would be purchased each month, Once in finance this amount would be paid like all other dues.

Best wishes

You are not mentioned your company set up, is multifinance multi logistic or single finance multi logistic.

If differenct company create schedule in both company(since it is fixed amount) define ledger account because debit and credit has to go in both company seperately ,run automatic tranastion in both company.

Hi,

Thanks for your solution. Your idea is really good. Since the function for automatic transaction (only Journals) between two companies are not available, we can go ahead with your idea.

We are using Multi-Finance/Multi-logistic.

Regards