Intercompany reconciliation
Month-end > Intercompany checks that intercompany balances agree: one company's "due from" another and that company's "due to" it should add up to zero. It works across any GP companies Ledger Doctor monitors on the server, and for two divisions' accounts inside one company. It's part of the Close plan. Nothing in GP changes.
Add a pair
An approver for both companies names the pair and enters the two accounts as GP shows them (like 000-1700-00). Both must be balance sheet accounts. Ledger Doctor suggests accounts whose descriptions mention intercompany, due to or due from. GP's own Intercompany Setup isn't needed.
Each period end
Pick the Period end and choose Show. Each pair shows both balances (everything posted in GP through that day, debits positive and credits negative) and the difference. A pair ties when the difference is 0.00.
- Ties, not signed off: an approver chooses Sign off.
- Doesn't tie: find the entry one side recorded and the other didn't. To sign it off anyway, write why it's off and what will fix it.
- Changed after sign-off: something posted after it was signed off. Look again and sign it off again.
Download Excel gives every pair with a live difference formula and the sign-offs, and the close binder includes the pairs for its company.