Intercompany Postings allows you to streamline intercompany transactions between multiple companies, for example, in different countries/regions, as well as multiple currencies, different charts of accounts, different dimensions, and different item numbering.
Intercompany Postings functionality focuses on supporting intercompany transactions with sales and purchasing documents, and with General Journal lines.
There are four main benefits to Intercompany Postings:
- Increased productivity as a result of time saved and simplified transactions
- Minimized error potential with one-time entry of information and system-wide, automated updates.
- Complete audit trail and full visibility into business activities and transaction histories
- Efficient, cost-effective transactions with affiliate and subsidiary companies
Along with intercompany posting capabilities in Dynamics 365 for Financials, there also is functionality as it relates to multiple locations. With Multiple locations, you can manage your inventory at different places. Multiple locations gives you a more detailed overview of inventory, whether it is placed at other geographical locations or in different places in your warehouse. You can buy to and sell from locations. When you sell items, the “Availability Per Location” window will show how to best deliver items to customers. You can transfer items between locations with transfer orders.
Also as part of Dynamics 365 for Financials is Multi-Currency functionality in which you can manage receivables and payables in the currencies of your choice, and record General Ledger transactions in different currencies
This allows your company to be ready for global business with automated currency posting, translation, and reporting. Multi-Currency can also ease or eliminate the calculations to present invoices and receive payments in local currency. A great advantage as well is the ability for managers to do business in local languages and currency while managing in a single currency
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Posted by iCepts Technology Group, Inc. a