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Payments Accounting

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Summary:

Payments Accounting

Content (required):

Invoice generated for two companies under the same set of books and business unit.

Invoice # 21 - for company 801 and 802

Charge Accounts- Company -Product-Account-Intercompany

801-000-90000-000 - Dr 50, 000 -Expense

801-000-40000-000 - Cr 50,000 - Liability

802-000-90000-000 - Dr 60, 000 -Expense

802-000-40000-000 - Cr 60,000 - Liability


Payment

900-000-90000-000 - Cr 50, 000 -cash

801-000-20000-000 - Dr 50,000 - Liability

802-000-90000-000 - Cr 60, 000 -Cash

802-000-40000-000 - 60,000 - Liability


What are the setups required to achieve the accounting for the payments. My current setup gives the accounting for the invoice. However, when the payment is done the accounting is done between, cash, inter company and receivables.

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