Ensure intercompany transactions always match and are booked in the correct period.

Accounting teams in my organisation and at shared service centres are well aware of the month-end close burden. And intercompany invoicing is a big part of that problem. If we can’t reconcile our intercompany transactions, we can’t close our books come period-end. The tracking, paying, and reconciling of intercompany accounts is timeconsuming, resource-heavy, and prone to errors. Because we create high volumes of intercompany invoices, we must dedicate significant time to eliminate those transactions from our financial reporting

Features

• Invoice Templates: Create your intercompany invoices from a template, which includes your preferred header and row fields.
• Approval Workflows: Utilise dynamic creator, approver and handler role workflows to process invoices. Invoice references Aico eliminates the need for intercompany invoice matching by ensuring that the reference field in the corresponding journal entry in the sister company’s ledger is identical.
• Automatic journal postings: When an invoice is raised, Aico will post relevant journals in the respective company’s ERP system simultaneously. This happens in real-time, so both sides of the payment get complete visibility.
• Easy Audit: You can trace each posting to the relevant ERP system. Suppose you have access to both companies involved in the transaction through Aico. In that case, you can see, for example, the SAP document numbers from the two different SAP systems because Aico is recording that on both sides of the transaction.