ICA Checks Transaction Type

Most businesses transfer intercompany allocation check data to their general ledger.

Most businesses transfer data detailing the payment of funds from the bank account of another company to their general ledger. This setup must parallel the Allocations Tab Setup.

The bank drives intercompany transactions. The bank must have the intercompany option selected. This selection tells the system to look at the posting rules under ICA Checks. Refer to General Tab Bank Accounts for more information.

A general ledger account for due to (a liability account) and due from (an asset account) must be set up in the source and destination EntitiesCompanies respectively.

Posting rules must be set up on the source PropertyCompany for invoice and ICA checks.

Refer to Posting Rules by Transaction Type for specific information about posting rules for the ICA Checks Transaction type.

Caution

Without setting up posting rules specific to your organization, the system cannot post transactions properly. Setting up posting rules is required.