Click Save to save changes you have made to the screen.
Click this button to update all G/L accounts that have been changed or added in remote companies when you are about to print a report with those accounts. (This ensures that the account description appears in the report.)
Clicking this button updates the company list for the current system database and currency settings, and adds new G/L source codes in these companies.
Click this button in the following situations:
- Before selecting companies to use for intercompany transactions. (If you don't click the button the first time you set up the ICT company, the Company Finder list will be empty.)
- After activating new versions of ICT, A/P, G/L, and Tax in the ICT company.
- After activating new versions of A/P, G/L, Tax, or ICT in a remote company.**
- After changing the ICT company's multicurrency setting.
- After adding a new company to the system database.**
- After changing a remote company's name, multicurrency setting, or G/L quantity decimals.**
** You should click Update Company Information if the remote company in which changes occurred uses the same system database as the ICT company—even though you might not use that company for intercompany transactions.
This field displays the functional currency of the ICT company.
You must select this option if the remote companies you will be using with Intercompany Transactions do not all use the same functional currency.
When you select this option:
- The functional currency of ICT A/P and ICT G/L transactions is determined by the originator of the transaction.
- The source currency of an ICT A/P transaction is determined by the vendor's currency (as in Accounts Payable).
- The source currency of a G/L transaction entry created in originating, intermediate, and destination companies is the functional or the source currency of the ICT G/L transaction entry from which it came.
These fields display the next batch numbers and the next posting sequence numbers for ICT G/L and ICT A/P.
Enter an account to use as the A/P Clearing Account.
- The A/P Clearing Account cannot be a control account for a subledger,
- The A/P Clearing Account must be a multicurrency account for all currencies when multicurrency is switched on.
Specify companies to use with ICT.
- The Company Finder will only display valid companies after you click Update Company Information. (A valid company is one that uses the same system database as the ICT company. Any others will not be displayed in the Company Finder.)
- If the ICT company is a single-currency company, you can only select companies that use the same functional currency.
This field displays the functional currency of each company.
Select this option if you want A/P batches to be posted automatically in the originating company (the originator) when you post the ICT A/P batch in ICT. If you do not select this option, you must manually post batches.
Select this option if you want G/L batches to be posted automatically in the originating, intermediate, and destination companies when you post the ICT G/L batch. If you do not select this option, you must manually post batches.
This field displays the status (active or inactive) of each company. Only active companies can be used for intercompany transactions.
Overview
You use the ICT Options screen to:
- Select the companies that you want to use with ICT.
- Update company information.
- Specify multicurrency transaction entry.
- Specify the Accounts Payable clearing account for each company that will be used in intercompany transactions.
- Choose whether you want ICT to automatically post A/P and G/L batches in the originating, intermediate, and destination companies when it creates them. (Alternatively, you can post the batches individually from the other companies.)
- View the next batch number and next posting sequence number of ICT A/P and ICT G/L batches.
- Update accounts information for remote companies.
- Keep Source Currency in G/L Transactions.