![]() To update intercompany accounts, query the trading legal entity and transacting ledger and click Update, or choose Create Accounts to create a new Intercompany account. Use this page to query, create, and update intercompany accounts. The list of values displays all the balancing segment values in the trading partner ledger to which the trading partner legal entity is mapped. The balancing segment value for the trading partner (to) perspective for which intercompany accounts are defined. The ledger with the trading partner (to) perspective in the intercompany trading relationship. The list of values shows all legal entities to which you have access to and the value All Other. Choose the trading partner legal entity from the list of values. ![]() The legal entity with the trading partner (to) perspective in the intercompany trading relationship. The list of values displays all the balancing segment values in the transacting ledger to which the transacting legal entity is mapped. The balancing segment value for the transacting (from) perspective for which intercompany accounts are defined. You can choose any ledger that is mapped to the transacting legal entity, including both primary and secondary ledgers, since intercompany accounts can be defined for both primary and secondary ledgers. The ledger with the transacting (from) perspective in the intercompany trading relationship. Choose the transacting legal entity from the list of values. The legal entity from which the intercompany transaction is initiated. The legal entity with the transacting (from) perspective in the intercompany trading relationship. This section describes some of the common fields used in the Intercompany accounts setup pages. This section describes key Intercompany accounting setup pages. This section describes the Intercompany Accounting page. Use the Intercompany Setup tab to define the processing rules at the enterprise level. Intercompany transactions must be processed in a consistent, systematic way across the enterprise. Intercompany and Intracompany Balancing, Oracle Financials Implementation Guide Setting up AGIS Note: AGIS is referred to as Intercompany in this document.Ĭreating Accounting Setups, Oracle Financials Implementation Guide These accounts must be defined as a part of the General Ledger setup process.īefore you start working on AGIS, you must setup the following:Ĭomplete the Accounting Setup Manager to set up General Ledger and legal entities ![]() Defining these accounts allows you to book transactions that are identified as intercompany transactions in the specific accounts. Intercompany transactions can be identified and eliminated by the use of specific accounts to book these transactions. The balances of the intercompany transactions must be eliminated or adjusted when preparing the consolidated financial statement, or it might result in overstated financial results, which in turn might lead to legal repercussions against the enterprise. ![]() Transactions that occur between two legal entities are called intercompany transactions and transactions that occur between two groups within one legal entity are called intracompany transactions. Intercompany transactions are transactions that occur between two related legal entities in an enterprise or between groups in the same legal entity. This chapter covers the following topics:Īdvanced Global Intercompany System (AGIS) enables you to create, settle and reconcile intercompany transactions.
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