- 365 Finance Architec
Automated Accounting Part 4, Intercompany Ledger Journals
Updated: Jan 6, 2021
Today will focus on automating Intercompany Ledger Journals.
We want D365 to automatically fill in the related Intercompany Receivable and Payables accounts and post the complimentary journal in the other company(ies).
This example assumes your Legal Entities are names US01 and US02
Chart of Accounts
General ledger > Setup > Chart of accounts > Main accounts
Create the following accounts.
2. Journal names
General ledger > Journal setup > Journal names
Create a new Journal Name as exhibited.
Create the exact same journal name in all applicable companies (both US01 and US02)
Note: Journal type "Daily" will appear in General ledger > Journal entries > General journals
3. Setup Ledger Posting Profiles
General ledger > Posting setup > iIntercompany accounting
Create a new record, fill out as exhibited.
Note: The Intercompany Main Accounts assigned to company US01 are named US02.
Note: The Intercompany Main Accounts assigned to company US02 are named US01.
Note: Make sure to assign journal name exactly as spelled in step 2 above.
4. General Journal
General ledger > Journal entries > General journals
When you create a Interco journal like exhibited, the system will automatically populate the corresponding proper Intercompany Receivable and Intercompany Payable accounts and Post the related entry in the second company.
The example is moving $1,000.00 USD from Petty Cash in company US01 to Petty Cash in company US02.
On a subsequent post we will dive into automating Intercompany Purchase and Sales Orders.