Initiating a Netting Transaction
The Balance Overview page provides a grid view of the open payable balances for subsidiaries. This page groups transactions by subsidiary-subsidiary-currency. Each subsidiary-subsidiary-currency group displays the following open balances:
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Balance due – Includes accounts payable and accounts receivable balances from all open posted transactions.
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Netting amounts – The Available for netting shows the maximum amount from all the transactions between the two subsidiaries that can be netted off. The amount available for netting can be zero or a negative amount. A zero amount does not always mean there is no amount to be netted off. In some cases, zero or a negative value may mean that you have credits that are available for netting.
Note:Only those groupings where netting can be performed display the New link in the Netting column.
Use the filters above the grid to reduce the balance overview list. The Subsidiary list lets you select multiple subsidiaries, and displays all of the values in the Subsidiary or Due to/From columns. Use column sorting to view data in an order different from the default order. For information about filters and sorting, see Best Practices for Using Intercompany Netting.
To initiate a netting transaction:
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Go to Transactions > Financial > IC Netting > Balance Overview.
Important:Newly enabled feature menu items are not automatically added to custom centers. You must manually add menu items to custom centers after a feature is enabled.
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In the Netting column, click a New link to open the Netting Workbench page. This page enables you to create a netting transaction against the open payable and open receivable amounts in that row.
Note:When there are nettable amounts for a subsidiary-subsidiary-currency group, each row displays a New link. The row in which you click the link displays that subsidiary’s open financials on the Main subtab on the Netting Workbench page. For information about using the Netting Workbench page, see Creating Netting Statements from the Netting Workbench.
If the Action column displays a zero value on a row, there is no mutual balance to settle.