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Administrator Guide
Last Updated: 2023-06-23
Steps: Create On-Behalf-of Intercompany Accounting

Steps: Create On-Behalf-of Intercompany Accounting

Define intercompany profiles.
You can create an on-behalf-of intercompany journal to manually record an intercompany transaction.
  1. Change the
    Company
     on at least 1 journal line to differ from the company on the journal header. Workday only displays companies on the
    Company
     prompt that have a defined intercompany relationship.
    • Select
      Include Payments on Behalf of Other Companies
      .
    • Click
      Add
       and then select
      Intercompany Items
       to find the on-behalf-of transactions you want to pay.
  3. (Optional) Access the
    Record Intercompany Receipt
     task.
    • Select
      On Behalf Of
       on the
      Intercompany Invoice Type
       prompt.
    • Select the bank account used for the settlement of the intercompany transaction. This bank account can differ from the
      Bank Account
       defined on the
      Edit Company Intercompany Profile
       task.
    When you record the receipt:
    • Overpayments post to an account.
    • You can write off short payments.
    • Invoices account for short pay and overpay when an invoice has a different currency than the company currency.
    • You can manage balancing worktag differences to improve reconciling of intercompany payables and receivables. The intercompany receipt posts correctly if a customer invoice has multiple lines using different balancing worktags.
    You can also configure your intercompany profiles to automatically record intercompany receipts when you settle an intercompany payment.
    Security:
    Record Intercompany Receipt Event
     business process on the Financial Accounting domain.
Workday displays an additional
Intercompany
 tab on the
View Journal
 report with the details of associated intercompany journals.