I want to merge a parent company with two subsidiaries (Local and Foreign) in a single CETEC account. How can I segregate and merged data in CETEC? How can I do the intercompany transaction in CETEC and how can I extract the report for separate financial statement and consolidated financial statement? Can there is a possibility that we done it through Location Field. When we proceed intercompany transaction through Location Field, there is a problem that we can only set one location for intercompany transaction( double entry) as a result when we extract data it shows entry in consolidated and single company transaction of one company but not in other. Further, can we restrict the location for some persons means if we have two different locations for two different companies the employees of one company restricted to see the location/data of another company.
Thanks,
Mubashar Rauf
Kindly guide us about the consolidation process we are waiting for your kind reply.
Hi Mubashar,
We’re going to need to understand more about your intercompany transactions in order to get a full picture of what you need. However, we can provide some big-picture details for you.
You will need to set up two Location Names, or LNAMEs. All financial reports support Location filtering, meaning you can run financial reports for both companies or for specific divisions. For each of these LNAMES, you will need to designate “Roll Up” Locations for Financial Reporting Purposes. You would need customer specific GL mappings so that revenue can be routed to the right account.
When it comes to dealing with intercompany transactions, warehouse transfers and internal build to stock orders both allow for multiple locations, meaning ledger entries would reflect on each locations financial reports. You can review GL transaction mappings and cusotmer/vendor GL mappings to ensure these post to the right accounts.
Cetec ERP Support Team
Hi,
Thanks for your reply. I have two questions related to intercompany transactions.
1.Intercompany Sale and Purchase
When we started consolidation process we have problem in our MRP Planning. Now we plan to create new parts for the new location and differentiate the parts specification of each location so we can set ROP for each parts and get exact MRP and waterfall reports of each parts.
Now my question is how can we do the intercompany sale and purchase within Cetec?? For example, if we create two different parts for packaging ITP for Location 1 and PKG for Location 2 and i want to purchase ITP from location 1 and built my PKG inventory for Location 2 how can i do this? We want our inventory processing smooth during the whole processes further we want to do inter company sale and purchase let say @ 10%of profit margin how can we do this with accurate financial processing.
- Manual Entry
If we do manual entry for intercompany transactions that included both location let say interbank money transfer etc. than what we can do to reflect the bank transaction in each location. Because in manual entry or even in auto entries through different processes we can set only one location for whole entry and we have limitation to set the location at split level. If we set the location at split level and split shows the relevant bank in and out in their relevant trial through double entry processing then this issue may be resolved.
We will be very grateful for your kind reply and your productive suggestion related to consolidation processes. Thanks
Best Regards,
Mubashar Rauf