Intercompany Clearing

I have some intercompany accounts, where do I start?

Head to our settings page and select the Intercompany item on the left hand side. From here you can create a new group by following the prompts. Once the group is created, hit the pencil icon to edit the group and add accounts from there.

My companies are in different currencies — can I still complete intercompany reconciliations?

Unfortunately RecHound does not currently support multi-currency intercompany clearing at this time.

What happens to the account after I have created the group?

On your homescreen, the account disappears from your balance sheet tab and enters your intercompany tab. You will be able to view all the transactions in the account by clicking on the group in the intercompany tab.

If I have support and then move the account to an intercompany group, what happens to the support?

The support will be removed from the item. If you were to delete the group and set it back to a standard account, any existing support previously created will remain.

I want to delete the group — will the transactions that I've cleared off remain cleared?

No. Once the intercompany group is deleted, or an account removed, the cleared transactions for that account will return to your regular transaction listing.

What happens if there are balances that do not tie?

Any transactions that don't add up to zero will remain on your reconciliation page until they can be netted off to zero.

Can I add multiple ledger accounts to an intercompany group?

Yes! You can group as many accounts as you'd like to your intercompany groups (across 2+ companies at a maximum).