Custom Transactions in Bank Reconciliation

Hi,

We are operating under One World environment with multiple subsidiaries under a parent company.  Each subsidiary has various investors. We were recording dividend accruals through bills and our investors were opened as vendors. This resulted in incorrect accounting classification of unpaid dividends under Accounts Payable.

To rectify the accounting treatment, we have designed an investor relations module through custom transactions, custom record type and custom forms. We have developed “Dividend” and “Dividend Payment” as the custom transactions. Dividends are being accrued through type “Dividend” and are paid through type “Dividend Payment”. Once a dividend is paid, the status on transaction type “Dividend” changes to “Paid” from “Open” through a suitescript. The status help us in pulling out agings through saved searches. Since, custom record type is compatible with One World Environment, we can have a single record for multiple subsidiaries instead of duplicating records.