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Pay bills across companies in Intuit Enterprise Suite
Learn how to pay a bill in one company using a bank account that belongs to another company in your organization. Intuit Enterprise Suite records the intercompany journal entries for you.
If your organization has more than one company, the money to pay a bill isn’t always in the company that owes it. With cross-company bill payment, you can pay the bill from a related company’s bank account right from the Bill Payment screen. Intuit Enterprise Suite keeps both companies’ books accurate automatically.
| Note: This feature handles the accounting only. It records the payment and the intercompany journal entries, but it doesn’t transfer actual funds between bank accounts. |
| Note: QuickBooks Desktop works with one company file at a time, so there’s no built-in way to pay a bill across companies. Instead, you had to set up clearing accounts or post manual intercompany journal entries. In Intuit Enterprise Suite, you can pay a bill across companies directly from the Bill Payment screen. |
How cross-company bill payment works
First, you choose which bank accounts a company shares with other companies in your organization. Then, when someone pays a bill, the shared accounts show up as payment options alongside the company’s own accounts.
When you pay a bill this way, Intuit Enterprise Suite automatically posts intercompany journal entries. These record the amounts due to and due from each company, so both sets of books stay accurate and your consolidated reports stay correct.
Step 1: Share a bank account with other companies
Anyone with intercompany account mapping permissions can set up which bank accounts can be used across companies. Only bank accounts can be shared—credit card accounts aren’t supported. You only need to do this once per account.
Go to Consolidated View, then under Shortcuts, select Intercompany bank account mapping.
Select Add bank account.
Choose the company whose bank account you want to share, then choose the bank account.
Enable access for the companies that can use it. You can choose more than one company. Then select Add, and select Save.
You can manage shared bank accounts at any time from the same screen. To stop sharing one, select Make inactive next to it.
Step 2: Pay the bill from another company’s bank account
Anyone who can pay bills in the company that owes the bill can use a shared bank account. The Cross-company bill payment toggle is on the Bill Payment screen. It isn’t available on the Pay bills page.
Open the bill you want to pay, then start the payment as you normally would.
Turn on the Cross-company bill payment toggle.
Select the company you’re paying from.
Select the bank account, then select Save and close.
That’s it. Intuit Enterprise Suite records the payment and posts the intercompany journal entries automatically.
Step 3: Review the intercompany journal entries
After you pay, you can check the accounting for both companies in one place.
Go to Consolidated View, select All apps, select Accounting, and then select Intercompany Transactions.
Find the bill payment, then view its transactions.
Review the due to and due from accounts, and the outgoing payment from the shared bank account.
Results
The bill is paid, and each company’s books reflect the right amounts due to and due from the other. Your consolidated reports stay accurate without clearing accounts or manual journal entries.
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