The Central Posting Hub allows you to create intercompany journals or invoices directly, entering the accounting lines yourself rather than calculating allocations from a ledger code.
Use this option when you need to specify the accounts, descriptions, and amounts manually for the companies involved.
1) Start a New Recharge
Go to Intercompany Control → Intercompany Recharge.
Click Perform to start a new recharge.
Enter a descriptive workflow name.
Select Central Posting Hub as the method for building the recharge.
2) Select the Companies
Choose the relevant Group.
Select the From Company, which is the company passing on the cost.
Select one or more To Companies, which are receiving the cost.
The companies must belong to the selected Group.
3) Choose the Transaction Type and Schedule
Select the transaction type:
Journal Entry: Enter the accounting lines directly for the companies involved.
Invoice: Create the paying company's invoice and the corresponding bill for each receiving company.
Choose whether the transaction is a Single Entry or a Recurring Entry.
For a recurring recharge, set the frequency, date range, posting settings, and transaction status as required.
4) Configure the Double Entries
The Central Posting Hub skips the Ledger Codes & Split step because the accounting entries are entered manually.
In Double Entries, open the relevant company panels and enter the required accounting lines.
For a Journal Entry:
Enter the narration for each entry.
Select the relevant debit and credit accounts.
Enter the amounts for each line.
Add additional debit or credit lines where needed.
Apply tracking categories or classes where applicable.
For an Invoice recharge, complete the invoice and bill details, including the relevant income or expense accounts and customer or vendor information.
5) Check That the Entries Balance
For Journal Entry recharges, GATHER.nexus checks that each entry balances before allowing you to save or submit it.
Every line must contain an amount.
The total must be greater than zero.
Debits and credits must balance for each entry.
If an entry does not balance, the screen displays the difference. Correct the amounts or accounts until all entries balance.
For transactions involving different currencies, each company's entry is checked in its own currency.
6) Add Multiple Journal Entries Where Required
For a Journal Entry recharge, you can create more than one separate journal entry for a receiving company.
Use + Add another journal entry for any Company.
Enter the narration and accounting lines for the additional entry.
Review each entry independently.
This is useful when different costs need to be recorded as distinct journal entries for the same company pair.
7) Review and Save the Recharge
Review the entries for the paying company and every receiving company.
Check the accounts, debit and credit amounts, narrations, currencies, and tracking selections before saving.
Once the required information is complete and the journal entries balance, follow the on-screen prompts to save the recharge.
Need help? Visit gather.nexus, click the chat icon in the bottom-right corner, or email [email protected] for assistance.