The Intercompany Time and Expense feature enables entry of intercompany time and expenses, and the transfer of time, expense, or both charges from one subsidiary to another.
You can enable the Intercompany Time and Expense feature at Setup > Company > EnableFeatures,, on the Accounting subtab.
OneWorld preferences at Setup > Accounting > Accounting Preferences > General subtab:
- Intercompany Time – Set to Allow (default) to permit time entries where the employee and customer have different subsidiaries. Set to Disallow to prohibit these transactions.
- Intercompany Expenses – Set to Allow to permit expenses transactions where the employee and customer have different subsidiaries. Set to Disallow to prohibit these transactions. Set to Allow and Auto Adjust to enable automated intercompany adjustments.
When time and expenses are entered, their impact on employee subsidiary accounts is recorded. For customers that have a subsidiary different from employees, create adjusting journal entries to reverse the impact on employee subsidiary accounts and register the impact on customer subsidiary accounts. You can manually adjust for the intercompany time by creating intercompany journal entries. Adjustments for expense transactions can be created manually, or they can be automated by generating specialized transactions called intercompany adjustments.