Parent subsidiary paying vendor for multiple child subsidiaries
So we have say 5 child subsidiaries that all deal with vendor X
Parent pays one wire to Vendor X for the total of all those vendor bills within those 5 subsidiaries.
What is the most efficient way to record these payments within NS? We are based in Canada and if there are 3rd party solutions that would help us, I am interested!
At the moment, it a manual process turning that one line from the bank into multiple lines for a advanced intercompany journal to allocate the amount being paid on behalf of each vendor...
Thanks in advance