Currently, intercompany receivables and payables are reconciled in the consolidation system or in Microsoft Excel® at the end of the month; this is generally done manually using balance data. Intercompany receivables/payables are usually posted manually, which creates a lot of work during month-end closing. The consolut Intercompany Suite minimizes and automates this manual work and allows it to be performed on a day-to-day basis instead of at the end of the month. The result: fewer manual operations and a faster month-end closing. The consolut Intercompany Suite consists of three components that differ according to the stages of process improvement:
The diagram below shows the automation stages of intercompany processes that are supported by the consolut Intercompany Suite:
The first step in the optimization of intercompany processes is a judicious use of the standard SAP Intercompany Reconciliation module (ICR). The Intercompany Reconciliation component of the consolut Intercompany Suite includes:
With the functions provided in the dialog, users can assign intercompany receivables and payables to each other in a manner similar to open item management. Items are assigned automatically using reference fields, with manual assignments only required in exceptional cases. Both manual and automatic assignments can be made during day-to-day business.
In addition, the reconciliation function allows for efficient processing of intercompany relationships that are reconciled in accounting using balance data.
In short, the Intercompany Reconciliation component both minimizes the manual tasks involved in reconciliation and allows them to be performed on a daily basis instead of at the end of each month. The result: less work and a faster month-end closing.