Hello guys l have problem with transfer money from a company to b company I use the Odoo enterprise version I want send money from A company bank to B company bank what is the solution ?? Help plz
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Inter company transactions are best handled via the Transfer of funds through a DUE TO / DUE FROM Account.
Some businesses have two accounts. For a given Company A, the first account - DUE TO B - is a liability account that represents the money Company A owes to Company B. The second account - DUE FROM B - is an asset account that represents the money Company B owes to Company A.
Some businesses have one account. Company A would create a liability account DUE TO / DUE FROM B to represent both things. A positive balance means Company B owes Company A money. A negative balance means Company B owes Company A money.
My example will use a single account.
1. Setup the Accounts in each Company. Here, we have two companies - PARENT and SUBSIDIARY.
2. Setup a Journal in each Company.
The Parent Journal is named "Subsidiary" to indicate the flow of funds to and from the subsidiary:
The Subsidiary Journal is named "Parent" to indicate the flow of funds to and from the Parent:
3. For each funding transaction, transfer funds in both Companies:
In the Parent, fund the Subsidiary:
In the Subsidiary, receive the funds from the Parent:
The partial Parent Balance Sheet after funding:
The partial Subsidiary Balance Sheet after funding:
The Consolidated Balance Sheet after funding - note the cash sent / received and liability / asset [negative liability] cancel each other out:
Journal Entries that were created:
HI Ray,
thanks, is user must have to access both companies? because if subsidy user want to transfer cash to Parent, how parent journal account will appear in subsidy allowed company?
Either the User needs access to both companies, or you need to coordinate with a User who does have access. There is no automatic creation of the journal entry in the other entiry, each entity needs someone to create the Transfer. It is created twice, once in the parent and once in the subsidiary.
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