GATHER.nexus allows you to set up the related reconciliation and elimination when saving an intercompany recharge. This reduces repeated data entry and helps ensure that the corresponding records use the correct companies, accounts, contacts, and tracking selections.
1) Configure the Recharge
Go to Intercompany Control > Intercompany Recharge.
Create a new recharge or open an existing one.
Complete the company selection, transaction details, allocations, and accounting entries.
Review the configuration before saving.
2) Review Related Intercompany Setup
On the final screen, locate the Related intercompany setup section.
You will see two options:
Also set up Intercompany Reconciliation for this pair
Also set up Elimination for this pair
For a new recharge, both options are selected by default. Clear either option if you do not want the corresponding setup created.
When editing an existing recharge, both options are unticked by default to help prevent duplicate records.
3) Review the Information That Will Be Used
When either option is selected, GATHER.nexus displays a summary of the information that will be used for the new setup.
Depending on the recharge, this includes:
The companies involved
The accounts used for the corresponding entries
The customer and vendor, where applicable
The tracking selection for each side
Review the details to ensure that the related records will match the recharge you are creating.
4) Complete the Currency Gain or Loss Details
When a new reconciliation is required between companies using different currencies, GATHER.nexus asks you to provide the necessary foreign exchange details.
Follow the Reconciliation FX accounts panel to:
Select the relevant company and foreign exchange account as requested.
Confirm the reconciliation frequency.
Available frequency choices include monthly, quarterly, and yearly.
The recharge cannot be saved with a new reconciliation until the required information has been completed. If the companies use the same currency, this additional foreign exchange setup is not needed.
5) Save the Recharge
Review the setup and save the recharge.
GATHER.nexus creates the selected reconciliation and/or elimination using the information from the recharge.
A recharge has two distinct accounting effects:
Balance Sheet: The amount one company owes the other.
Profit & Loss: The income recorded by the paying company and the corresponding expense recorded by the receiving company.
Accordingly, the system sets up the matching records for both sides when applicable.
6) Understand How Existing Setups Are Handled
GATHER.nexus checks whether an equivalent reconciliation or elimination already exists for the same companies and relevant accounts, contacts, and tracking selections.
If a matching record exists, it is reused rather than duplicated.
This is particularly important when editing an existing recharge. The options remain unticked by default, and saving an edit does not automatically create duplicate records.
7) Review the Results
Open Intercompany Control > Overview to review the status of the recharge, reconciliation, and elimination for the company pair.
You can also open the Intercompany Reconciliation and Elimination tabs to review the resulting records.
The account and tracking summaries help you verify that the related records reflect the original recharge.
Need help? Visit gather.nexus, click the chat icon in the bottom-right corner, or email [email protected] for assistance.