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Configure a settlement account for multiple administrations

You can work with multiple environments and, within an environment, with one or more administrations. Each environment always has one main administration and can have multiple administrations, the so-called subadministrations.

You can configure a mutual settlement account relationship between the administrations so that you have a quick and easy way to record settlement account entries.

Description

A settlement account in an environment allows you to maintain and display the financial relationship between two administrations. You can set up a settlement account relationship for different administrations within the environment, for example: X mutually with Y, X mutually with Z and Z mutually with Y.

In the various 'settlement account' ledger accounts, the administrations enter the mutual claims and obligations they have with each other, for example, a delivery of goods or services or other types of obligations.

The advantage of a settlement account relationship between multiple administrations is that you only have to enter your financial data once. Profit automatically enters the data you entered in the other administration. For this sort of charges, you therefore do not create an internal invoice that you have to enter separately in the other administration.

Moreover, a correct settlement account relationship ensures that the auditing between two administrations is very simple: the balance of the settlement account ledger accounts involved will always be 0.00 if the facility has been properly used.

Before you can start working with a settlement account relationship, you need to configure each settlement account relationship individually.

Procedure
Also see

Process

Multiple administrations