Complicated Transactions made Hassle Free.
What is Intercompany Transaction?
An Intercompany transaction is known as a transaction between affiliated companies (i.e., a parent company and one of its subsidiaries or a parent’s subsidiaries). For the consolidation of affiliates, transactions between members of a firm group must be analyzed and recorded accordingly.
Why is Intercompany Transactions Important for your QuickBooks File?
With all business-to-business transactions taking place between parties that are related to or affiliated with one another (for example, one subsidiary selling a product to another or a parent company providing services to a subsidiary), you’d think that getting those transactions structured and carried out (i.e., reported and executed) on time, accurately, and transparently would be at the top of every company’s priority list. Sadly, this is rarely the case.
Some Examples of Intercompany Transactions:
There are many transactions among parent companies and their subsidiaries. Common intercompany transactions scenarios include:
- Sales and Purchases of services and goods between a parent company and its subsidiaries.
- Fee Sharing
- Leases with the parent or other subsidiaries.
- Dividends between subsidiaries and parent company.
- Financial Activities.
How our Add-on works?
Our Intercompany transaction application is directly integrated with QuickBooks Online. With this application, the user doesn’t have to login every time into QuickBooks Online when they have to add a company. This application will allow users to have full transparency and accuracy of multiple transactions posted.
Benefits of our Add-on:
- Post intercompany transactions to multiple QuickBooks Online entities with a click of button.
- Post recurring intercompany transactions with pre-defined templates
- Saves time and increase accuracy of transactions posted to QuickBooks Online entities.
Who should use DLA intercompany transactions QuickBooks Online App?
- Property management
- Enterprises holding company with multiple subsidiaries
- Franchise enterprises