We process roughly 25,000 journal entries each month. We currently use Nolan and do inter-company transactions between 7 companies but are thinking about jettisoning that and track our JEs within our corporate company and use GP’s intra-company setup. Does anyone out there use GP’s Intra-company feature in high volume? What are some of the pros and cons you have experienced.
You may need to clarify what you mean further.
There is no "intra" company module in GP, only "inter" company, as in, between different company databases.
Are you referring to Interfund by chance? That product automatically creates due to/from entries on every posting between your specific fund segment within a company db. That's the closest thing I can think of that you might mean by "intracompany".
Possibly what I am referring to - are you saying that interfund is a not a native GP feature but a an ISV or that it is a feature of GP?
I think what Michael is referring to is the Interfund Management feature with GP. That GP module allows you to assign a segment of the CoA for "interfund" offsets, but unforutnately, has very limited functionality. The biggest issue is that it does not allow for multiple due from/due to accounts for the funds. That's is the chief reason people use our AIT (Advanced Intercomapny Transactions) module when they want to run multiple companies withing a single database. With AIT, you can do both intercompany (across multiple databases) as well as intracompany (within a single database). Volume is not an issue. Plus you get the copy/paste from Excel feature, or you can easily import a CSV or tab-delimited text file directly into the Transaction Entry window.
Can you elaborate of "...The biggest issue is that it does not allow for multiple due from/due to accounts for the funds..."
"...The biggest issue is that it does not allow for multiple due from/due to accounts for the funds..."
This means that if you have, for example 10 corporate entities, you cannot establish unique due-from/due-to accounts for each individual relationship. If you want to do a transaction between #3 and #5, it's going to use the same offset accounts as doing a transaction between #3 and #7. The result is that you spend a lot of manual time resolving intracompany account balancing.
Another option is the Multi-Entity Manager (MEM) product from Binary Stream. It allows multiple companies in a single database, with full security and ease of reporting that other products do not have, as well as separate corporate FEINs, separate or consolidated 1099s, and fully automated due to/from transactions. See our website for more details:
Multi-Entity Management for Microsoft Dynamics GP
------------------------------Neil MacDonaldBinary StreamMoncton NB
------------------------------Michael LeidenAssociate CIO Information ServicesCatholic Human ServicesPhiladelphia PA------------------------------
Our Intercompany Posting solution can also be used for Intracompany Postings as well. We are happy to set up a time to discuss this with you if you would like. Please reach out to me at firstname.lastname@example.org or give me a call directly at 250-808-4643.
Best regards and have a Happy Thanksgiving,
If you've found this thread useful, dive deeper into User Group community content by role