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Intercompany Vendor Bill Management

Status: Unverified

Intercompany Vendor Bill Management automates the allocation of expense or item lines to multiple subsidiaries. Native Netsuite functionality restricts the accounting entries on vendor bills to a single subsidiary and does not permit the distribution of expenses to other subsidiaries. This solution bridges this gap and distributes the expenses/items to multiple subs

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Description

Intercompany Vendor Bill Management

The Intercompany Vendor Bill Management solution automates the allocation of expense or item lines to multiple subsidiaries. Native NetSuite functionality restricts the accounting entries on Vendor Bills to a single subsidiary and does not permit the distribution of expenses to other subsidiaries. Our solution is designed to bridge this gap and automate the recording of Intercompany Journal Entries to distribute expenses to multiple subsidiaries.

Key Benefits

The Key Benefits are:

  • New custom fields added to the Vendor Bill line level.
  • When the Vendor Bill approval status is updated to “Approved” an Intercompany Journal Entry is automatically created to distribute the expenses/items to the subsidiaries selected.
  • Built-in currency conversion automatically handles multi-currency subsidiaries.

Automate your processes!

Our Intercompany Vendor Bill Management solution allows you to Re-class your expenses to the correct subsidiaries automatically.

FEATURES

Ability to define Subsidiary on the Line Level.

The solution adds several fields to the line level of the Vendor Bill. With these custom fields, you can add Subsidiary, Department, Class, Location, etc. to each expense or item line for the correct distribution of the expenses.

Approval Process

We have incorporated the Approval process to allow for multiple sets of eyes on a Vendor Bill prior to Intercompany Journal Entry creation. Review and modify as needed to ensure proper Bill entry, and submit to create the Journal Entries.

Built-in Currency Conversion

Our solution piggyback's off of NetSuite's built-in currency conversion to ensure that our clients are pulling in the accurate rates based on the Date of the Vendor Bill.