{"id":3949,"date":"2019-06-20T17:48:59","date_gmt":"2019-06-20T17:48:59","guid":{"rendered":"https:\/\/www.peeriosity.com\/shared-services\/articles\/?p=3949"},"modified":"2022-09-02T08:58:01","modified_gmt":"2022-09-02T08:58:01","slug":"simplifying-the-intercompany-accounting-function-through-automation-and-process-design","status":"publish","type":"post","link":"https:\/\/www.peeriosity.com\/shared-services\/articles\/2019\/06\/simplifying-the-intercompany-accounting-function-through-automation-and-process-design\/","title":{"rendered":"Simplifying the Intercompany Accounting Function through Automation and Process Design"},"content":{"rendered":"

Introduction<\/strong><\/span><\/p>\n

Intercompany Accounting \u2013 the recording and reconciliation of accounts payable and accounts receivable activities that take place between separate legal entities of the same company \u2013 is often ripe for simplification and improvement<\/a>.\u00a0 Puzzling in a way, since, unlike trade accounts payable or trade accounts receivable transactions, all the parties involved are ultimately employees of the same company.\u00a0 At many companies, Intercompany Accounting can utilize a significant amount of resources, as well as extend closing cycles and delay account reconciliations. Efficiency in managing Intercompany Accounting can eliminate a great deal of non-value-added activities.<\/span><\/p>\n

Company Experience<\/strong><\/span><\/p>\n

Two recent PeercastTM<\/sup> discussions in Peeriosity\u2019s General Accounting (R2R) research area<\/a> featured two leading global technology companies, discussing their multi-year efforts to streamline and improve Intercompany Accounting processes.\u00a0\u00a0 Here are some of the key learnings in this area:<\/span><\/p>\n