ICBALANCES - Reconciliation of Intercompany Accounts
Apart from the reconciliation based upon single invoices in ICRECON, ICBALANCES presents another instrument for the necessary reconciliation of intercompany relationships within the group. ICBALANCES serves to reconcile all balances of the intercompany accounts and to document them for each balance sheet concerned. Despite the focus on the reconciliation of balances, ICBALANCES supports reconciliation at the level of individual invoices, which ultimately leads to reconciliation of the balances. The integration of ICBALANCES into tm5 lays another foundation stone for the acceptance of the treasury platform in the corporate group by all companies in the group.
Basic Data
The account balances are extracted from the ERP systems by the company and, depending on the connection, are either actively or automatically read into ICBALANCES. This could either be the current balances of the accounts concerned or the individual invoices behind them. ICBALANCES supports both approaches. The more details there are available for the reconciliation, the easier it is for the contracting party to confirm.
In reporting the data, ICBALANCES discriminates between reporting and confirmation. A corporate account is reported if this serves to confirm the opposing account and to reconcile any differences. It is of no consequence if the reconciliation has been defined via a 1:1 or 1:n, or even an n:m relationship between the corporate accounts. A corporate account may also be fed locally by several individual accounts. Each company can define their own assignments which are automatically considered for reconciliation when comparing the corporate accounts concerned.
Owing to the option of comparing individual invoices, every company has a transparent tick list with the individual invoices available in the system, and ICBALANCES immediately makes any gaps or differences visible for everyone involved.
Confirmation of Balances and Documentation
An important prerequisite for the use of ICBALANCES is the documentation of the reconciliation procedures and their results, necessary for the annual financial statements. This is supported by ICBALANCES, so that no other documents have to be sent in the group.
Your Contact:
Martin Bellin
Tel.: +49 7822 4460 - 0
Fax: +49 7822 4460 - 104
E-Mail: sales@bellin.de
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