Tied to the General Ledger, A/P, and A/R is the concept of intercompany accounting. Often-times it is more expedient to pay expenses for multiple legal entities from a single bank account. This will reduce the time needed to process all of the payments, but it requires the supporting documentation and ledger entries to properly record the transaction. With Entole, intercompany accounting occurs automatically when you process payments for multiple legal entities from a single bank account. Additionally, you can set-up rules that require approvals of the payment from the entity it is paid on behalf of before the expense is recognized. This can help if you have different operating businesses working together, each with their own team.  Consider the possibilities: establish budgets by legal entity, then make payments on behalf of all of your legal entities out of a common account within your PTC , with each of those payments journaled directly to the appropriate ledgers.  Then on an ad hoc or periodic basis (monthly, quarterly, annually) clear the inter-entity due-to/due-from to save countless hours by your Family Office Teams.

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    Entole
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    Entole