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Bank Statement Transaction Rules - Intercompany Transfers

edited Oct 16, 2024 11:37PM in Payables, Payments & Cash Management 1 comment

Summary:

Hi

We have noticed an issue with our bank statement transaction rules, relating to inter-entity cash transfers. Our current rules record the offset of the cash transfers for GL 10120- Cash Clearing - Cash Transfers. However when the transfer crosses entities, the company code used on the transaction is not the same. As a result, the cash clearing balance is never "cleared". It looks like we currently have uncleared transactions in Promo and VAEL templeton. This is causing overstatement/understatement of our cash balances in the non-consolidated reporting.

I am not sure how we can clear these without creating another intercompany transaction. These cash clearing balances will continue to grow as more cash transfers are made.

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