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3E Intercompany Billing Streamlines Accounting for Multi-Unit Firms
The powerful 3E financial management system delivers multi-currency capabilities that allow firms to easily track and manage activity on a multi-unit, global scale. As part of the robust package, 3E enables firms to transfer funds between business units, under which one or more offices with geographic or other similarities might operate. Now, 3E Intercompany Billing is available, which enables firms to generate bills for intercompany transfers between units, providing the hard copy bill needed to streamline global accounting processes and support statutory requirements.
Easily Track Source of Funds
Intercompany Billing capabilities enable a firm to generate a bill for accounting purposes for transferring of funds between units, such as when a timekeeper domiciled in one unit performs work for another. Each bill is assigned a matter number, so firms can quickly track each disbursement or receipt to the originator. In addition to generating billing for individual matters, Intercompany Billing can also be generated on a unit level, allowing for a complete tracking of funds collected from different units.
Same 3E Flexibility
Intercompany Billing is fully integrated into the 3E Business Optimization Suite and works seamlessly with General Ledger and Invoice Management, so the same full robust 3E features, including matter-billing capabilities and inter-company tools, are available for Intercompany Billing. For example, because Intercompany Billing is directly tied into General Ledger, intercompany bills can now be automatically populated. As part of the powerful 3E financial management system, Intercompany Billing enables firms to automate and streamline their billing, improve invoicing cycles and ultimately benefit from higher revenues.
3E Invoice Management Integration
Intercompany Billing is integrated with 3E Invoice Management, so it has the same prebill validation capabilities. Firms can generate intercompany proformas, and bills can be generated even if funds are not transferred to another unit. Other features include the ability for overrides to be set up, and also Intercompany Billing can accommodate changes in discount percentages and terms for firms that provide internal discounts for work performed. Taxes can also be included in billing transactions.
The powerful application development capabilities that 3E is famous for provide firms with the capability to transform a firm’s unique business processes. Intercompany Billing is another reason why more firms are turning to 3E for their financial and practice management needs.