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Question: What do you understand by Intercompany Settlement?

Answer: 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.




Category Accounts Payable Interview Questions & Answers - Exam Mode / Learning Mode
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Question: What do you understand by Intercompany Settlement?


Answer:

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.


Source: CoolInterview.com


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

Answered by: Anoop Kapoor | Date: 3/13/2009 | 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) Source: CoolInterview.com

Answered by: Abhishek Mathur | Date: 2/14/2010 | Contact Abhishek Mathur Contact Abhishek Mathur


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