Dev: Intercompany / Intracompany Handling

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Background

This discussion of intercompany handling is meant to cover the situation where one core owner is running multiple reltated companies - typically on one system and with overlapping transactions and interaction between the companies. The different companies may be referred to as Divisions or Entities.

One of the key characteristics of a InterCompany situation, is when each company files taxes under a separate Federal Tax ID.


Issues

  • Each Company must maintain a separate Balance Sheet (that balances)
  • Each Company must be able to file Payroll taxes separately.
  • When running consolidated financial statements, intercompany transactions should not be included.
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