Beans Beans Bean.. it appears that there is some confusion as to what intercompany is, with regards to invoicing received from a sister company.
I am in the process of working my way through a quarter-end and have the dubious joy of having to explain a $421K intercompany variance. Seems the twerps up in Marketing/Account Management received some [...]
Filed under: accounting | Tagged: monthend, intercompany, journals, quarterend, invoices, marketing | Leave a Comment »
… as I had mentioned in a previous post, my intercompany with another affiliate didn’t balance. My co-worker, who couldn’t figure out where the discrepancy was, asked me to look into it. Turns out what happened was that a payable was raised because she had to compensate my “company” for some payroll charges. HR should [...]
Filed under: accounting | Tagged: accounting, human resources, intercompany, journals, reconciliations | 2 Comments »
… that’s what I heard this morning from Human Resources, as I am madly trying to enter data into our reporting system- as all financials for November are due tomorrow at 12 noon; and as I have 4 companies to “publish” I need to whack them out as quickly as possible so that they can [...]
Filed under: accounting | Tagged: accounting, monthend, intercompany, reporting, gl, income statement | 1 Comment »
The madness continues. Today’s hijinxs consisted of a co-worker, who is responsible for applying cash receipts against Receivables (that pesky process of when clients pay us and we input an entry into the accounting system DR Cash & CR AR).
Today I got an email from one of our affiliates that they were wiring over a [...]
Filed under: accounting | Tagged: accounting, bank, clerk, GAAP, intercompany | 1 Comment »
