General Ledger & Intercompany

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    Anil Nair
    Internal Company recharges
    Topic posted January 3, 2019 by Anil NairRed Ribbon: 250+ Points, last edited February 6, 2019, tagged Accounting Hub Cloud Service, Allocations, Assets, Configuration, Discussion Forums, Expenses, Financials, Fusion, General Ledger, Payables, Public Sector, Reports, Search, Setup, Setup / Administration, Subledger Accounting, Subscriptions, Tip 
    49 Views, 2 Comments
    Title:
    Internal Company recharges
    Summary:
    Internal Company recharges
    Content:

    Hi,

    We have a client requirement on how to handle internal recharges within the client company using Oracle Fusion Financials

    1. Charging of Levies across Cost Centres 
    2. Charge out/Reallocation of costs from a central bill to the consuming Cost Centres (e.g Phone paid centrally then allocated out) 
    3. Purchasing on behalf of a Cost Centre then charging to that cost centre

    Looking for recommendations/best practices on how to approach the above requirements.

    Thanks. 

    Comment

     

    • Surya G

      Hi Anil,

      Are you looking to allocate the expenses from default cost centre to other cost centre(HR, ADMIN, FIN etc) ? 

      Say for an example, you incurred an expense for telephone charges and paid with the default cost centre. Now you need to allocate this expense to the cost centre based on the percentage or ratios ? 

    • Bernardine Rogers

      You should check out the Generate General Ledger Allocations or Generate Intercompany Allocations features for what you need.

      Use the Generate General Ledger Allocations if you only need journals created to reflect the cross-charges.

      Use the Generate Intercompany allocations feature if you need intercompany transactions and maybe invoices generated.

      Both of these features support single ledger as well as cross-ledger (as long as the ledgers are in the same ledger set.) intercompany activity.