Allocate intercompany expenses in Intuit Enterprise Suite

Learn how to set up intercompany account mapping and allocate expenses between companies in Intuit Enterprise Suite.

With Intuit Enterprise Suite, you can directly allocate portions of a transaction directly from your bank feed, expense, check, or bill form to the different companies involved in the transaction. Just enter a percentage to allocate to each business in the allocation form and Intuit Enterprise Suite handles the correct accounting based on your intercompany account mapping.

Intuit Enterprise Suite includes the following critical enhancements to help you record and track allocations:

1. Audit log: Providing audit and compliance oversight, you can see your allocations in the audit log.
2. Attachments: Attach a file on intercompany allocation that can be reviewed on individual companies while auditing.
3. Support for item allocation: Select a product or service and allocate.  
4. Support for dimensions and projects: You'll see both options in the allocation. 
5. Ability to edit allocations: You no longer have to delete and re-create an allocation to make adjustments.

We’ve also added support for refund transactions. You can now add multi-entity allocations for vendor credits and credit card credits. Additionally, you can now select asset and liability accounts in the Category field.

Setup intercompany account mapping

Set the source company's receivable and pay accounts to be used automatically when doing business between companies. This ensures correct debit and credit accounts without manual selection each time.

This is a one-time setup before you perform allocations. In order to perform allocations between Accounts Payable and Accounts Receivable accounts, you must set this up.

Follow this link to complete the steps in product

1. Select Set account mapping.
2. Select Set up your first account mapping.
3. In the Company 1 dropdown ▼, choose the source company.
4. In the Company 2 dropdown ▼, choose the target company.
5. In the Intecompany payable & receivable accounts dialog, use the Due to Company 2 dropdown ▼ and the Due from Company 1 dropdown ▼ to choose the correct accounts. 
6. If necessary, repeat the process for the Due from Company 2 dropdown ▼ and the Due to Company 1 dropdown ▼. If your multi-entity allocations only use the first set of account allocations, you can leave this row empty. 
7. To add additional intercompany mappings, select Add and repeat the setup process.
8. When you’re finished, select Done.

Allocate expenses and credits

You can allocate expenses and credits from your bank feed, or transaction forms like Expense, Bill, Checks, Vendor credits, and Credit card credits.

1. Go to one of the following:
   • Bank transactions (Take me there)
   • Expenses (Take me there)
   • Checks (Take me there)
   • Bills (Take me there)
   • Vendor credits (Take me there) 
   • Credit card credits (Take me there)
2. Create or open an existing expense, check, bill, or credit. Or, open a bank transaction that's categorized or waiting for review.
3. Enter expense details as normal, such as the payee and category details.
4. Select Allocate in the transaction.
5. For each expense’s category or item, you can select Allocate to choose one or more entities to involve in the allocation. Then, select Save.
6. Select the Category or Item for each company, then the Percentage/Amount for each company.
   Note: You’ll also be able to add memos or attachments to each expense.
7. When finished allocating the expense, select Save.
8. On the money-out form, select Save and close.

The transaction is now marked with an allocated icon for your reference.