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CMST02Examples of Intercompany Transactions in ajeraCompleteajeraComplete users have the ability to setup multiple companies within one Ajera database.This allows a single firm that has multiple unique companies to share clients, vendors,resources and to conduct to and from transactions from company to company. There aremultiple types of transactions that can take place. Below, you will find examples of sharedresources, vendor invoices, cash receipts and expense entry as well as steps for reconciliation.This example is of a firm, Accutera Architects, which has three unique companies. Companyone is Accutera Architects, company two is LLC 2 and company three is LLC 3.Shared Resource on a ProjectPat Hill, an employee for Accutera Architects, enters time on 5/1 to a project belonging to LLC 2(figure 1). The salaries payable for the employee stays with Accutera Architects along with anintercompany due from. The cost for the employee is charged to LLC 2 along with the work inprogress and intercompany due to, as seen in the report (figure 2).(Figure 1) Shared Resource on a Projectaxium.comAll rights reserved. Copyright 2012 Axium.Examples of Intercompany Transactions in ajeraComplete 1
CMST02(Figure 2) Shared Resource on a Projectaxium.comAll rights reserved. Copyright 2012 Axium.Examples of Intercompany Transactions in ajeraComplete 2
CMST02Vendor InvoicesA vendor invoice from Global Blueprinting was sent to Accutera Architects but includes chargesfor a project belonging to LLC 2 (figure 3). The payable remains with Accutera Architects alongwith the intercompany due from. The cost, inter company due to and work in progress entriesbelong to LLC 2, as shown in the report (figure 4).(Figure 3) Vendor Invoicesaxium.comAll rights reserved. Copyright 2012 Axium.Examples of Intercompany Transactions in ajeraComplete 3
CMST02(Figure 4) Vendor Invoicesaxium.comAll rights reserved. Copyright 2012 Axium.Examples of Intercompany Transactions in ajeraComplete 4
CMST02Employee Expense ReportsPat belongs to Accutera Architects, but has expense report items for a project belonging to LLC2 (figure 5). When the expense report is processed, the payable & intercompany due fromentries are created for Accutera. The cost for the expense, intercompany due to and work inprogress is charged to LLC 2, as shown in the report (figure 6).(Figure 5) Employee Expense Reportsaxium.comAll rights reserved. Copyright 2012 Axium.Examples of Intercompany Transactions in ajeraComplete 5
CMST02(Figure 6) Employee Expense Reportsaxium.comAll rights reserved. Copyright 2012 Axium.Examples of Intercompany Transactions in ajeraComplete 6
CMST02Flexible Reconciliation OptionsBelow is an example of using the Bank Register to easily transfer funds from the LLC2 bank toAccutera’s bank, reconciling both the due to and due from entries.LLC 2 owes Accutera 1592.34 for the value of time/expenses Pat Hill had in May. This is a dueto entry for LLC and a due from entry for Accutera. The moving of funds to reconcile due to anddue from between accounts can occur as directly through the Bank Register as anIntercompany Bank Transfer (figure 7). The session journal indicates a credit to cash for LLC 2,a debit relieving the intercompany due to account as well as a debit to cash for Accutera and acredit relieving the intercompany due from account (figure 8).(Figure 7) Flexible Reconcilliation Optionsaxium.comAll rights reserved. Copyright 2012 Axium.Examples of Intercompany Transactions in ajeraComplete 7
CMST02(Figure 8) Flexible Reconcilliation OptionsBelow is an example of using Vendor Invoice to reconcile the due to entries LLC 2 owesAccutera Architects.LLC 2 owes Accutera 1592.34 for the value of time/expenses Pat Hill had in May. Anintercompany vendor invoice is entered for LLC 2 to pay Accutera and a check is printed rightthen (figure 9). The session journal indicates an in/out to Accounts Payable for LLC 2, a debitrelieving the intercompany due to account and a credit to cash, as shown in thereport (figure 10).axium.comAll rights reserved. Copyright 2012 Axium.Examples of Intercompany Transactions in ajeraComplete 8
CMST02(Figure 9) Flexible Reconcilliation Options(Figure 10) Flexible Reconcilliation Optionsaxium.comAll rights reserved. Copyright 2012 Axium.Examples of Intercompany Transactions in ajeraComplete 9
CMST02Below is an example of using Client Receipts to reconcile the due from entries LLC 2 owesAccutera ArchitectsAccutera then enters an intercompany cash receipt into Ajera for the funds received from LLC 2(figure 11). This will debit cash and credit the Intercompany due from LLC 2 (figure 12).(Figure 11) Flexible Reconcilliation Options(Figure 12) Flexible Reconcilliation Optionsaxium.comAll rights reserved. Copyright 2012 Axium.Examples of Intercompany Transactions in ajeraComplete 10
CMST02Easy Drill Through Reporting with a New Reconciliation ReportThis report (figure 13) will show your intercompany accounts showing you what portion of theaccount balances are due to or due from other companies. For example Accutera’s due fromaccount has 3060.61 due from LLC 2 and 2118.45 due from LLC 3. The reconciliation reportallows for one click drilling into the detail of an entry.(Figure 13) Easy Drill Through Reporting with a New Reconciliation Reportaxium.comAll rights reserved. Copyright 2012 Axium.Examples of Intercompany Transactions in ajeraComplete 11
CMST02Company Information Added into Inquiry for Easy Custom ReportingOur flexible Inquiry tool (figure 14) allows for easily customizable reports that can incorporatemultiple companies. These Inquiries can be used for simplified reconciliation processes or anyspecialized reporting needs.(Figure 14) Company Information Added Into Inquiry for Easy Custom Reportingaxium.comAll rights reserved. Copyright 2012 Axium.Examples of Intercompany Transactions in ajeraComplete 12
Below is an example of using Vendor Invoice to reconcile the due to entries LLC 2 owes Accutera Architects. LLC 2 owes Accutera 1592.34 for the value of time/expenses Pat Hill had in May. An intercompany vendor invoice is entered for LLC 2 to pay Accutera and a check is printed right then (figure 9).
