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SSWap5922
November 19, 2021
Question

streamlining or automating intercompany transactions?

  • November 19, 2021
  • 1 reply
  • 16 views

Has anyone come across any means, apps, integrations, hacks or tips/tricks in QBO for streamlining intercompany transactions? I reconcile transactions between a few associated companies each month and always strikes me as a job for software that posting a bank download to Debit Cash Credit Due to/from (for simple cash transfers) or, say, paying expenses of one company from the bank account of a sister company could somehow trigger matching in another company's bank downloads (if that makes sense)? I've been told Sage300cloud  has an add-on for this but I've never used it nor talked to anyone that's used it.  

    1 reply

    T
    Trish_TQuickBooks Team
    QuickBooks Team
    November 19, 2021

    Hi SSWap5922,

     

    Thank you for reaching out to Community for suggestions and recommendations for streamlining intercompany transactions. Although there's currently no way to perform this directly in QuickBooks Online, feel free to review your options in our QuickBooks App Store.  This is a great question and I'll also be following for any additional tips or tricks others may have to offer.

     

    Please feel free to reach out with any other questions.  We'd be happy to help!

    S
    SSWap5922Author
    November 19, 2021

    Hi Trish,

     

     

    Thanks for the reply! Confused by your response though wrt to part where you say " feel free to review your options in our QuickBooks App Store. "

     

    Are you saying there are third party apps that can integrate with QBO? Can you point them out to me please? I looked a bit ago but didn't find anything. 

     

    Thank you!

     

    A
    A-Frame
    June 5, 2022

    I understand your hands being tied on recommending any apps over others. I meant more are any there apps with this functionality? I can't seem to find any on my own. And reading between the lines of your reply it doesn't sound like, if I may, you've found any, either? Please correct me f I am wrong.

     

    Wrt sending suggestions to the Development Team, I've been told this too often with too little results that it seems worth it anymore. Please pass this on to DevTeam if you think it has a chance of going anywhere or would be acted on in the short term (defined as a year or less). Otherwise, why bother? I'd take a different tack if there was a MS Voice-like forum where me and others could vote for most wanted features (do you have this?). Alternatively, I've heard of other companies mandating that Development Team members spend time responding to forum poster's questions to help them better understand the users' point of view and to help keep it in mind as they prioritize changes and upgrades. Completely understand and respect that there's a finite amount of resources for an unlimited number of wants. : S

     

    Finally, my actual suggestion is that responders like stop making this suggestion as it comes across like boilerplate (no offense intended here, just relaying my ho) and, if they are going to suggest someone make a suggestion, that they then take ownership of it and see it to its finality (i.e., "I took your suggestion up to VP of Development and s/he says it can be done, but just not enough support behind it, business case isn't there, so your options are limited, really; either build a following to force us to implement it, go find an alternative and if you like us enough let us know so we can check it out/see if it can be easily integrated and/or, last, TFCO and better luck next time". I think that'd be more real overall. And refreshing. Just like I'll need to be doing since I spent WAY too long typing this post... lol.

     

    Thanks again and have a great weekend!        


    I have this same challenge/frustration with intercompany.  I'm new to a smaller organization that uses QBO, and similar to the post above, would love the option for users to vote/elevate requests, suggestions and tools (like MS) that would make using QBO much more efficient, easier, and less likely to have manual entry errors.

    I have been given the responsibility to decide if we stay with QBO or look at other solutions to support finance and reporting for our group of small companies.  This intercompany transaction is a big sticking point right now, and it seems crazy to have to use a 3rd party app for this accounting feature.  I was not able to find anything specific that would just to intercompany... so far 

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