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  • INTERVIEW QUESTIONS ACCOUNTS ACCOUNTS PAYABLE DETAILS
    Question :
    What do you understand by Intercompany Settlement?


    Category Accounts Payable Interview Questions
    Rating (0.4) By 1577 users
    Added on 7/21/2006
    Views 3342
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    Answers:

    A key functional area of SAP for Utilities that supports cross-company exchange of settlement data based on international standards such as EDI, XML, and Microsoft Excel.

    Intercompany data exchange manages data transfer between retailers, distributors, and independent service operators with special regard to the requirements in deregulated markets.




    It means to know the exact profitability of each division. Whateever they take in terms of funds,items should be reconciled at the end.



    Posted by: Anoop Kapoor    

    Contact Anoop Kapoor Contact Anoop Kapoor

    Intercompany settlement is a type of adjustment of funds made between two parental companies.
    lets take an example:
    If Co.A Sell goods worth $1000.00 to its own Subsidry Co.B and in the meanwhile Co.B sell goods worth $8000.00 to Co.A(it has to be in same FY), then at the end of the Financial Year Co.B has to pay only $2000.00 to Co.A. Co.A will pass an adjustment entry in their books for the difference amount.
    (In case of other vendors this procedure cannot be followed)



    Posted by: Abhishek Mathur    

    Contact Abhishek Mathur Contact Abhishek Mathur

    Intercompany data exchange manages data transfer between retailers, distributors, and independent service operators with special regard to the requirements in deregulated markets.



    Posted by: Thiruppathi Mani    

    Contact Thiruppathi Mani Contact Thiruppathi Mani

    intercompany investments means the adjustment of debts between the companies where they have creditors and debtors among themselves.



    Posted by: Rajasekhar    

    Contact Rajasekhar Contact Rajasekhar

    INTER COMPANY TRANSACTIONS IS A TYPE OF ADJUSTMENT BETWEEN BOTH THE COMPANIES. INTER COMPANY CAN BE TRANSFERRED ( AS AND WHEN REQUIRED) GOODS/FUNDS/INVESTMENTS/ASSETS AND ANY OTHER CAN BE ADJUSTED IN PARENT COMPANIES AND FINALLY AT THE END OF THE YEAR FINAL AMOUNT WILL BE ARRIVED. NORMALLY THIS CAN BE HAPPENED IN ANY PARENT COMPANIES. EXTERNAL VENDORS THIS TRANSACTION IS NOT POSSIBLE UNLESS ANY DOCUMENTARY EVIDENCE AND PRIOR APPROVAL FROM TOP MANAGEMENT.



    Posted by: SHYAM PRASAD VENKATA MADIRAJU    

    Contact SHYAM  PRASAD VENKATA MADIRAJU Contact SHYAM PRASAD VENKATA MADIRAJU

    Intercompany settlement is a type of adjustment of funds made between two parental companies.
    lets take an example:
    If Co.A Sell goods worth $1000.00 to its own Subsidry Co.B and in the meanwhile Co.B sell goods worth $8000.00 to Co.A(it has to be in same FY), then at the end of the Financial Year Co.B has to pay only $2000.00 to Co.A. Co.A will pass an adjustment entry in their books for the difference amount.Co.A adjustment amount is $6000
    (In case of other vendors this procedure cannot be followed)



    Posted by: Rohit    

    Contact Rohit Contact Rohit

    Intercompany settlement is nothing but the Finance or Dr and Cr within the Company used for settlement of money.



    Posted by: Kanniappan.M    

    Contact Kanniappan.M Contact Kanniappan.M

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