Merge pull request #1675 from MicrosoftDocs/397733

397733 Update Intercompany content to fit into Hub-and-spoke story

Author: edupont04

business-central/intercompany-how-setup.md

@@ -15,9 +15,9 @@ ms.author: edupont
 ---
 # Set Up Intercompany Transaction Posting
 
-To send a transaction (such as a sales journal line) from one company and have the corresponding transaction (such as a purchase journal line) automatically created in the partner company, the companies involved must agree on a common chart of accounts and set of dimensions for use on intercompany transactions. The intercompany chart of accounts can be, for example, a simplified version of the parent company's chart of accounts. Each company maps their full chart of accounts to the shared intercompany chart of accounts, and each company maps their dimensions to the intercompany dimensions.  
+To send a transaction (such as a sales journal line) from one company and have the corresponding transaction (such as a purchase journal line) automatically created in the partner company, the companies involved must agree on a common chart of accounts and set of dimensions to use with intercompany transactions. The intercompany chart of accounts can be, for example, a simplified version of the parent company's chart of accounts. Each company maps their full chart of accounts to the shared intercompany chart of accounts, and each company maps their dimensions to the intercompany dimensions.  
 
-You must also set up an intercompany partner code for each partner company, which is agreed upon by all of the companies, and then assign them to customer and vendor cards respectively by filling in the **Intercompany Partner Code** field.  
+You must also set up an intercompany partner code for each partner company, which is agreed upon by all of the companies, and then assign that to customer and vendor cards respectively by filling in the **Intercompany Partner Code** field.  
 
 If you create or receive intercompany lines with items, you can either use your own item numbers, or you can set up your partner's item numbers for each relevant item, either in the **Vendor Item No.** field or in the **Common Item No.** field on the item card. You can also use the **Item Cross Reference** function to map your items' numbers to your intercompany partners descriptions of the items, open the card of each item, and then choose the **Cross References** action to set up cross-references between your item descriptions and those of the intercompany partner. For more information, see [Use Item Cross References](inventory-how-use-item-cross-refs.md). 
 
@@ -30,7 +30,7 @@ If you will make intercompany sales transactions that include resources, you mus
 ## To set intercompany partners
 1. Choose the ![Lightbulb that opens the Tell Me feature.](media/ui-search/search_small.png "Tell me what you want to do") icon, enter **Intercompany Partners**, and then choose the related link.
 2. Choose the **New** action.
-3. On the **Intercompany Partner** page, fill in the fields as necessary.[!INCLUDE[tooltip-inline-tip](includes/tooltip-inline-tip_md.md)]
+3. On the **Intercompany Partner** page, fill in the fields as necessary. [!INCLUDE[tooltip-inline-tip](includes/tooltip-inline-tip_md.md)]
 
 > [!NOTE]
 > In [!INCLUDE[prod_short](includes/prod_short.md)] online, you cannot use file locations to transfer transactions to your partners because [!INCLUDE[prod_short](includes/prod_short.md)] does not have access to your local network. Therefore, if you choose **File Location** in the **Transfer Type** field, the **Folder Path** field is not available. Instead, the file will be downloaded to the Downloads folder on your computer. You then send the file to someone in the partner company, for example, by email. For a more direct process, we recommend that you choose **Email** instead.
@@ -47,7 +47,7 @@ In order for a group of companies to make intercompany transactions, they must a
 
 If your company is the parent company and has the defining intercompany chart of accounts that your group will use as a common reference, follow the [To set up the defining intercompany chart of accounts](intercompany-how-setup.md#to-set-up-the-defining-intercompany-chart-of-accounts) procedure.  
 
-If your company is a subsidiary company and you receive an XML file containing the common intercompany chart of accounts, follow the [To Import the intercompany chart of accounts](intercompany-how-setup.md#to-import-the-intercompany-chart-of-accounts) procedure.  
+If your company is a subsidiary company and you receive an XML file containing the common intercompany chart of accounts, follow the [To import the intercompany chart of accounts](intercompany-how-setup.md#to-import-the-intercompany-chart-of-accounts) procedure.  
 
 ### To set up the defining intercompany chart of accounts
 1. Choose the ![Lightbulb that opens the Tell Me feature.](media/ui-search/search_small.png "Tell me what you want to do") icon, enter **Intercompany Chart of Accounts**, and then choose the related link.
@@ -61,7 +61,7 @@ To allow your intercompany partners to import the defining chart of accounts, yo
 3. Specify the file name and the location where you want to save the XML file, and then choose the **Save** button.  
 
 ### To import the intercompany chart of accounts  
-When a file exists for the defining intercompany chart of accounts, intercompany partners can import it to make sure they have the same accounts.  
+When a file exists for defining the intercompany chart of accounts, intercompany partners can import it to make sure they have the same accounts.  
 1. Choose the ![Lightbulb that opens the Tell Me feature.](media/ui-search/search_small.png "Tell me what you want to do") icon, enter **Intercompany Chart of Accounts**, and then choose the related link.  
 2. On the **Intercompany Chart of Accounts** page, choose the **Import** action.  
 3. Select the file name and location of the XML file, and then choose the **Open** button.  
@@ -78,7 +78,7 @@ If the accounts in the intercompany chart of accounts have the same numbers as t
 3. For each intercompany general ledger account that was not mapped automatically, fill in the **Map-to G/L Acc. No.** field.  
 
 ## To set up default intercompany partner general ledger accounts  
-When you create an intercompany sales or purchase line to send as an outgoing transaction, you enter an account from the intercompany chart of accounts as a default for which account in your partner's company the amount is posted to. On the **Chart of Accounts** page, for accounts that you often use on outgoing intercompany sales or purchase lines, you can specify a default intercompany partner general ledger account. For example, for your receivables accounts, you can enter the corresponding payables accounts from the intercompany chart of accounts.  
+When you create an intercompany sales or purchase line to send as an outgoing transaction, you enter an account from the intercompany chart of accounts as a default for which account in your partner's company the amount is posted to. On the **Chart of Accounts** page, for accounts that you regularly use on outgoing intercompany sales or purchase lines, you can specify a default intercompany partner general ledger account. For example, for your receivables accounts, you can enter the corresponding payables accounts from the intercompany chart of accounts.  
 
 Then, when you enter a general ledger account in the **Bal. Account No.** field on an intercompany line with **Intercompany Partner** in the **Account Type** field, the **IC Partner G/L Account** field is automatically filled in.  
 

business-central/intercompany-manage.md

@@ -9,13 +9,17 @@ ms.devlang: na
 ms.tgt_pltfrm: na
 ms.workload: na
 ms.search.keywords: IC, group, consolidation, affiliate, subsidiary
-ms.date: 06/02/2021
+ms.date: 08/11/2021
 ms.author: edupont
 
 ---
 # Managing Intercompany Transactions
 
-Your organization may consist of several companies, but might not have the equivalent number of accounting and administrative teams. The Intercompany functionality lets you do business with your subsidiary and internal partner organizations in the same way as you engage with your external vendors and customers. You enter intercompany transaction information only once in the appropriate documents. You can use the functionality you are already familiar with, such as receivables and payables management. Mapping facilities for the chart of accounts and dimensions help ensure that information appears in the right places.  
+The intercompany transactions capabilities are designed for users who control more than one legal business entity and have set up multiple companies to separate the accounting functions of each of these entities. This broad description applies to many users, especially those operating in international markets or regions with widely disparate business cultures and regulatory environments.
+
+Your organization may consist of several companies, but might not have the equivalent number of accounting and administrative teams. Intercompany transactions lets you simplify and streamline business processes and transactions between all of these entities.
+
+Once you start using intercompany transactions, doing business with your subsidiary and internal partner organizations becomes as simple as engaging with your external vendors and customers. You enter intercompany transaction information only once in the appropriate documents. You can use the functionality you are already familiar with, such as receivables and payables management. Mapping facilities for the chart of accounts and dimensions help ensure that information appears in the right places.  
 
 There are four main benefits to the Intercompany functionality:  
 
@@ -24,9 +28,28 @@ There are four main benefits to the Intercompany functionality:
 - Complete audit trail and full visibility into business activities and transaction histories  
 - Efficient, cost-effective transactions with affiliate and subsidiary companies  
 
+## Streamlining the Flow of Business Activities  
+
+Intercompany transactions lets you distribute sales and purchasing documents, as well as General Journal entries to all of your satellite offices, sales offices, or subsidiary companies, from within the program. Savings of time and increased efficiencies result throughout the organization as you eliminate redundant data entry and the sending, receiving, printing, and archiving of the sales and purchasing documents on paper.  
+
 You are in full control of all transaction documents. For example, you can reject a document sent to you and, in this way, Reverse Journal Postings and Undo Receipts/Shipments that were incorrect. Or, when making a purchase from a partner or subsidiary company, you can update the purchase order as long as the selling company has not shipped any goods.  
 
-When you enter a transaction, you do not need to specify the accounts for an individual set of books, but simply give the identification of the partner company. The Intercompany functionality creates general journal lines that result in the balancing of the books of both companies involved in a transaction. In receivables and payables, you assign an intercompany partner code to any customer or vendor. From that moment on, all orders and invoices generated pertaining to transactions with these companies will produce corresponding documents in the partner company, resulting in correct balancing of the accounts.  
+When you enter a transaction, you do not need to specify the accounts for an individual set of books, but simply give the identification of the partner company. The intercompany functionality creates general journal lines that result in the balancing of the books of both companies involved in a transaction. In receivables and payables, you assign an intercompany partner code to any customer or vendor. From that moment on, all orders and invoices generated pertaining to transactions with these companies will produce corresponding documents in the partner company, resulting in correct balancing of the accounts.  
+
+Intercompany transactions functionality focuses on supporting intercompany transactions with sales and purchasing documents, and with General Journal lines. Within this area, intercompany transactions allows intercompany transactions between multiple [!INCLUDE [prod_short](includes/prod_short.md)] databases, for example, in different countries/regions, as well as multiple currencies, different charts of accounts, different dimensions, and different item numbering.  
+
+Intercompany transactions uses a number of entries and documents in intercompany transactions:  
+
+- General Journal entries
+- Purchase and sales orders
+- Purchase and sales invoices
+- Credit memos
+- Return orders
+
+When you set up intercompany transactions, you create a list of intercompany partners, called IC Partners, and an intercompany chart of accounts. Following these steps, you can perform intercompany general journal transactions. You set up dimensions – if needed – separately.  
+
+> [!NOTE]
+> The general journal by itself does not include currency functionality, but converts all amounts at the applicable rate to the local currency.
 
 After you set up business partners as customers and vendors in the system, and assign them intercompany partner codes, it is possible to exchange intercompany purchase and sales documents, including items and item charges. [!INCLUDE [prod_short](includes/prod_short.md)] supports intercompany transactions between multiple databases, for example, in different countries/regions, as well as multiple currencies, different charts of accounts, different dimensions, and different item numbering.  
 
@@ -42,7 +65,7 @@ The following table describes a sequence of tasks, with links to the articles th
 |Create your intercompany vendors and customers as so-called intercompany partners, and set up an intercompany chart of accounts.|[Set Up Intercompany](intercompany-how-setup.md)|
 |Use intercompany documents or journals to post transactions with your intercompany partners.|[Work with Intercompany Documents and Journals](intercompany-how-work-documents-journals.md)|
 |Organize and process incoming and outgoing transactions that you exchange with your intercompany partners.|[Manage the Intercompany Inbox and Outbox](intercompany-how-manage-intercompany-inbox.md)|
-|Use intercompany postings to distribute costs between partner companies.|[Allocate Costs to Intercompany Partners](intercompany-allocate-costs.md)|
+|Use intercompany transactions to distribute costs between partner companies.|[Allocate Costs to Intercompany Partners](intercompany-allocate-costs.md)|
 
 ## See Also
 
@@ -54,4 +77,4 @@ The following table describes a sequence of tasks, with links to the articles th
 ## [!INCLUDE[prod_short](includes/free_trial_md.md)]  
 
 
-[!INCLUDE[footer-include](includes/footer-banner.md)]
+[!INCLUDE[footer-include](includes/footer-banner.md)]