Table of Contents
| Table of Contents |
|---|
Trading Between Host Companies
Terms are set on the debtor and show on the creditor normally.
| Gliffy | ||||||
|---|---|---|---|---|---|---|
|
When you have a number of host companies in the system that operate loans rather than payment terms. The payment terms are can be replaced by a term called "Loan".
Typical example is a 100% owned company that you settle up the trading every month or quarter.
...
A transaction created in one Host company will create the required transaction in the other Host Company
| Note |
|---|
Only persons who have access to both the Host Companies are able to create manual transactions. |
The only transactions allowed are:
- Debtor Invoice (Creates Creditor Invoice in other company) with Creditor Invoice Subtype = "Trading Loan Mirror"
- Creditor Payment (Creates Debtor Payment in other company)
...
The Creditor Payment - must have bank information entered that matches the target Host Company Bank Account
When the creditor payment is created = a debtor payment is created in the other host company - and the reference from the other host company will show as external ref number.
The Debtor payment that was created in the other Host Company
...
On the Balance Sheet
Setup
Create the loan and indicate the start date. A loan can be setup at any time.
| Note |
|---|
All transactions before the start date are not added to the loan value as they are unlikely to may not have matching transactions in the other entity. So transactions before the loan date will still be paid using Bulk Pay Creditors |
Define the loan in one of the Host Companies - Status will be "Proposed". From the other Host Company status will show as "Awaiting Approval" - Change Status to "Active"
The loan can be ended at any time and any transactions after the end of the loan will use normal collection terms.
This will put the terms on the Debtor and Creditor in both Host Companies of "Loan"
...