Reconcile Intercompany Balances

ICBalances

Intercompany Balances (ICBALANCES) makes child‘s play of the task of reconciliation of the intercompany balances between your group's subsidiaries - slashing your closing time from weeks to days.

This module checks intercompany financials to reconcile mismatches when there are goods-in-transit, cash-in-transit, intercompany loans, or intercompany royalties.

  • Identify differences between market rates and your records in domestic currency.
  • Automated reconciliation of account balances.
  • Create detailed adjustment entries to correct and document differences.

After reconciliation has been completed in ICBALANCES, all outstanding items will have a match, including adjustment entries. The confirmation engine displays all green, and a detailed report can be generated. The reporting delivered for consolidation purposes no longer contains any time-consuming or unexplained differences.

AgreementDrivenNetting®

AgreementDrivenNetting® is a self-clearing approach to settling intercompany trade. tm5 provides an automated invoice matching process with a unique dispute workflow for intercompany disagreements. This gives you the best of both payables and receivables-driven processes, and provides central treasury with even greater visibility and accuracy of information.

Virtual Netting

Not all countries allow netting, but your subsidiaries within them should still be fully integrated into your reconciliation process. With virtual netting, these subsidiaries don't get netted, but their invoices and receipts are still matched, and disputes processed through the agreement workflow, resulting in reliable cash flows.