Unlocking eSignature Legitimacy for Business Transaction Management in the United States

How to eSign a document: eSignature legitimacy for Business Transaction Management in United States

[Music] in this video we're going to go through the intercompany transactions in business central this is generally used when you have Greek companies and the two are trading with each other and you need to send transactions from one to the other or journals but it doesn't necessarily have to be group companies it just as long as it's two different companies in your business central so with intercompany transactions it means raising sales and voices on company a and they will automatically turn up as purchase invoices and Company B or vice versa in terms of purchases to sales you can also post part of an invoice over to another company so something like shared costs so a third-party vendor has sent something in you need to share the cost between companies you can do that too we'll see that and second and also journal entries raise a journal on one side and have it automatically come in to the other company so if we go into business central here we are in the company Wales and we are going to raise a sales invoice I have my sales invoice created and I've got two different line types on here I've got stock item and GL account and they're going over to the company England and behind the scenes it already knows that England is a company within the business central database all of that has been set up ordinarily you may have mapping to set up between the two system before this gets going so unless you're using exactly the same stock code which we are in this example and exactly the same nominal codes then you have provide mapping to say the stock coding Wales in this instance means this stock code in England and so on but that mapping would automatically come through to here so you can see we're mapped out here I've chosen the GL code here because the GL the chart of accounts might not necessarily be the same on the England side so I can choose whichever code I want this to post to over the other side and there we go and from here all I need to do is post as normal and that will then go through so that is invoice 302 five and if I come over to England you can see here I've got two browsers running in two different companies so answers another question kind of I logged into two companies at the same time yes you can there's the two zero to five that were just looking at already in as a purchase invoice on the England side and you can set these up so they automatically come in or you can set them to come up into a sort of pending area and then import them in from there so they go through sort of an authorization process on the other side we'll see that in a moment when we post to a third-party vendor but on this side just to complete this transaction through so it's here it's come from Wales it's the same two lines again and I can continue and post into yeah so that transactions in no rekeying no mistakes or anything along those lines exactly the same information through if I raised an invoice from this side so let's say something like a rent invoices come in so this is a third party vendor so we come into here we'll choose whether the landlords are I'll come down into here and put these through to the rent codes and the rent is a thousand pounds and 600 relates to England but 400 relates to Wales so we've put it on in one single invoice with two lines so we just have invoice reference of that so that line relates to England and then we come down and we choose the same codes we've got four hundred to relate to whales now to get rid of two whales what we need to do we just need to set this line to say okay which intercompany partners is going to it's going to whales what is it it's a GL account and again we're looking back at that shared chart of accounts between the two and we'll code that through and just post as normal in fact let's just come in and post and do preview posting which is the useful thing to see here that you have to see exactly where it is going to post so what it will do it'll post a thousand through to rent and Beauty etc but then because it understands what the intercompany control is for whales it'll post that into the owed by whales and also that into the rent so we'll be left with the 600 that is payable by England so what come through and what posted properly this time so that's posted through and that's 205 so if we go back into whales and you kind of think well will this automatically come through as a sales invoice on the whales side and the answer is no because who's a sales invoice - so it's going to actually come through as if it was a journal so these are held within the the intercompany inbox so if I come into the intercompany inbox we can see here there's a transaction and there's a reference and we can see from the transaction what the details are so that's going to post through to the intercompany code and post through into rent so it's all fine we can accept that and that water then post through into the intercompany journal with no VTR with that particular posting date so that will just post through and the journal will be raised and then I can post the journey no in this company in Wales so again no rekeying just processing so just to finish yourself let's say that rent transaction did actually turn out to be incorrect oh we've got to move the money back by a journal then we can do that through intercompany general journals and just as no longer we choose which geocode on the way outside we want to take the money out oh I'll put the money into and then the balancing account type is just the choice of intercompany partner choose who the partner is and then what the reference is here and that will be enough so if we again preview the postings that's what will happen on this side the rent expense will go down in the amount owed by England will go up then we can process and post that transaction through and on the England side again in the intercompany inbox transactions we have the document there and we can come in and accept that and it's asking me which intercompany journal references to use and we can get that posted through as well and there's the transaction now waiting on the inside which is just a reverse of what we put in on Wales so you can see the intercompany functionality cuts down very much on the process and the time taken of home to rekey something and obviously reduces the chances of anything be being rekey incorrectly and because it's just the transaction that's going from one company into the other okay thank you