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- Intercompany Reconciliation
- Process
- Receivable issue
Receivable issue
An intercompany receivable represents the charge raised by one trading entity against another. Receivables Accountant prepares the billing side and issues it only after the partner, account lines and amount have been checked. The issue action gives the team an operation receipt tied to the transition.
Step by step
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Prepare charges Receivables Accountant
Choose the issuing entity and receivable partner, enter the reference and dates, and review the revenue category and ledger account on each line.
- Record billing and account detail
- Updates Intercompany receivables, Receivable lines, GL accounts
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Issue receivable Receivables Accountant
Receivables Accountant runs the native issue action on Draft. It records a Receivable Issue receipt and guards the move to Sent.
- Record issue result and Sent state
- Updates Intercompany receivables, Reconciliation receipts
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Compare pair Senior Accountant
Senior Accountant compares the issued charge with the received payable using partner references and amounts.
- Compare the two charge records
- Updates Intercompany receivables, Intercompany payables
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Follow balance Receivables Accountant
Receivables Accountant follows any partial payment or overdue balance until finance agrees the remaining amount.
- Review open amount and linked money movement
- Updates Intercompany receivables, Settlements
Who does what
Roles and permissions- Receivables Accountant
- Prepares and issues; Senior Accountant compares the paired charge; Settlement Analyst links the movement; Controller reviews exceptions.
Set up Intercompany Reconciliation your way.
Start free, then use Proto to change fields, steps and approvals before your team goes live.