Question

Multi-Company And Customer Sends One Check For Both

  • 29 June 2023
  • 5 replies
  • 96 views
M
Userlevel 2

K22.1

We have two companies with the same address and phone number, and one of our customers routinely sends a single check to pay our AR for moneys owed to both companies.  What are some approaches you and your AR team members have used, to receive the cash into Epicor in the multiple companies?

Thanks,

...Monty.

5 replies

T
Userlevel 1

You can set up an Alternate Bill To or use National account. National account could be overkill for what you need; Alternate Bill To may be all that you need especially when it’s so easy to set up.

Alternate Bill To set up: Use customer X as the one that pays and on the Customer record, select Allow as Alternate Bill To on the Billing tab. Then go to customer Y who is the other one that X is paying for and add New Alternate Bill To. This is the Billing > Alternate > Detail tab. Enter in the customer number of customer X and you can even select to have that be the Default Bill To which will enable you to apply cash to both customer X and Y when you bring up customer X.

 

M
Userlevel 2

Thanks @tracy !  I think this is the method Accounting is using within one company.  But when we receive one check to pay AR for two of our Epicor companies, do you know of a way to get the money into both Epicor companies?

T
Userlevel 1

Sorry about that, I thought about it  multi-company as opposed to multiple customers after I hit send and closed the web page but had already moved on. Good luck!

 

N

We have the same issue.  We set up a “bank account” and called it Multi-Company and link the GL to the other account.; under both companies.  Then we apply the invoices under Cash Receipts for the portion of the 1st company and misc payment to the GL for the other company.  Then we use the bank “Multi-company” to apply the invoices for the other company.  

L

We do a similar process as NRAJPUT. 

Step 1:  [company 1] In the company that receives all of the cash, we apply the invoices and create a MisPay for the remainder using the intercompany GL clearing account.

Step 2:  [company 2] In the other company, create a cash receipt for the same customer and apply that portion of the payment, even though they didn’t actually receive the cash, but you need to clear the invoices.

Step 3:  [company 2] Create a bank adjustment to credit cash and debit your intercompany GL account.

Step 4:  [company 2] In bank statement reconciliation, clear both the cash receipt and the bank adjustment as a net zero.

Lianne

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