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- Time Charter In (TC In) and Time Charter Out (TC Out) contracts can be made against another internal company, and internal payments are created to settle the books.
- An internal company can pay invoices on behalf of another internal company, with the Veson IMOS Platform settling the books.
- TC Rebilling can be done between a TC In and a TC Out contract for the same vessel.
- Journal Entry can be posted between different companies, using the intercompany account.
Setting Up Intercompany Payments
To set up intercompany payments, follow these steps:
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The Transaction Data Entry form has an I/C (intercompany) column for the line items.
Creating a Journal Entry
When you post a transaction with a value in the I/C column, a message asks if you want to create a Journal Entry for the transaction. To do this, there must be an I/C account set up for both companies. The Journal Entry is created in the following format:
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