and Invoice Reconciliation
Do you still come across intercompany invoices that were issued years ago but never settled due to a disagreement? Maybe in currencies which no longer exist? Finally clear these positions thanks to the structured and automated dispute process of tm5, giving you the best of both payables- and receivables-driven processes.
Not all countries allow netting, but your subsidiaries within them should still be fully integrated into your reconciliation process. With virtual netting, the invoices of these subsidiaries are not netted, but their invoices and receipts are still matched, and disputes processed through the agreement workflow.
Automated balance reconciliation
Use tm5’s automated reconciliation process for all balances between your subsidiaries. Our system automatically matches balances, and highlights discrepancies between companies, making reconciliation a structured, efficient process.
Advantages of multilateral netting and invoice reconciliation in tm5
- Decrease the total number of intercompany transactions and limit netting settlement to one currency per company.
- Drastically reduce the workload within the process of intercompany reconciliation.
- Integrate your intercompany payments and settlements with ERPs and accounting systems.
- Alleviate uncertainty in intercompany receivables.
- Get a report of all intercompany invoices that have been outstanding for a long time.
- Manage disagreements in connection with outstanding intercompany invoices directly in the system.
- Centralize funding and FX risk to where it can be handled best: central treasury.
- Gain a view of your entire intercompany trade flows, and their evolution over time.
- Settle your netting results directly on intercompany accounts or on bank accounts through the tm5 payment module.
- Leverage the agreement-driven netting approach for virtual netting accounts – and settle the payments on bank accounts or on intercompany accounts.
How to achieve optimized intercompany netting
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