Dynamics 365 Business Central: Intercompany
We are going to start doing some videos on Intercompany we actually got a suggestion a comment, we love getting comments. Please if you have any suggestions, anything you need or are working on right now, you get stuck in or something like that. Just throw a comment and we will definitely answer you and take a look at it.
We got a comment, said, hey I am struggling with Intercompany, can you do some Intercompany videos? Thanks for that and we are going to dive into at least a couple of Intercompany videos, Intercompany can be a pretty big area so with further ado, let me get into the first one.
How to copy a Company
I have copied the Cronus company into Cronus EU, so if I go into companies right here, I can see I have 2 companies, Cronus USA and Cronus EU. In order to copy a company, just to show you how that works, all you have to do is go into companies and click on the company you want to copy, just hit copy and type in the new name and it actually copies the company, really handy.
Setting up Intercompany
I’m going to get out of here and get into setting up Intercompany. The way we do that is that we create a customer for the other company and a vendor for the other company. So, on both sides, if one company is selling to another company, then obviously you create a customer on the one that sales and the vendor from one who buys.
In this case I have Cronus EU and I created a customer called Cronus USA, when I’m going to Cronus USA I have something called IC partner code and I want to get into that and then it actually says, Intercompany information is not set up for your company do you want to set it up now? and I do, yes. The partner code I’m going to set up for this is Cronus EU and we check off the auto send transactions over, so there is like an inbox which sends transactions or receives transactions. There is an outbox that sends transactions, it's almost like sending an email. I just hit ok. Go in again and click new to create an Intercompany partner so the Intercompany partner is going to be Cronus USA and over here, I can go ahead and check off the company that is referring to. It looks up into the company list and allows you to pick that. So, as a sales transaction, we have the customer setup, this is going to be the customer. And I haven't set up any purchase transactions yet. We are selling from EU to the USA and we can set it up so if you want to you can also set up the receivable account if you are doing straight account.
Now I’ve set up an Intercompany partner for Cronus USA. Now I have to do the same thing for the other company. I think I made a mistake here in setting up the companies. The company EU is displaying as Cronus USA, so I want to fix that. Just go ahead and click on this. It’s a good thing to learn when you copy a company it actually copies the displaying name. So, if you change the name, it doesn't change the display name, you have to finish fixing that as well.
I want to create a vendor for the EU company, so we get into Cronus USA and get into vendors, create new and so that is fine. Business to Business. The name will be Cronus EU, we are buying from EU. I just say show more, like so, the Intercompany right here we want to set it up for Cronus USA as well. Say Yes. Auto send transactions, ok. Then we click on this again and create an Intercompany partner which is Cronus EU, we pick the company, EU and in this case, we are doing a purchase transaction, so we are picking the Cronus EU Vendor over here, we can pick a payable account just if you want to set that up. Now we’ve set up on the US side, we have set up the EU as a partner and on the US side, we created EU as a partner. On the US side, we are buying, it’s a vendor and on the EU side we’re selling and it’s a customer. next video we’ll go into creating a transaction between these two partners.