We have two companies dealing in different type of food products. but the customers are common to both the companies. Customer invoices are issued from respective company as per the items in that company. Now the customer issued a signle cheque for the settlement of both the companies invoices, as we are group companies. How to handle a receipt in both companies?? pls. advise
Is this a “one off” that you need to fix. Or is it a regular business rule that you will be doing on a day to day basis?
Process deposit in one of the coppanies (let say company A that has Bank where you deposit money) and apply part that belongs to this company. Other part has to go as GL line to the “Due To/From Company B”…
Then go to other company B and process payment from Customer with balancing account “Due To/From Company A”.
Thx for your response. What you are saying is an accounting treatment. But i want to know, whether we can do it thru Intercompany Inbox and Out Box. Your solution is without involving Intercompany mail box. Anybody can further highlight??