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Sister Concern

Sister Concern in Merciglobal Cloud ERP

Sister concern refers to companies that are affiliated through a shared parent entity. These businesses may:

  • Operate independently with distinct product lines
  • Compete within the same industry or domain
  • Be governed by a shared decision-making authority or management team

This relationship often demands financial coordination and reconciliation between the entities.

Ledger Account Reconciliation

In Merciglobal Cloud ERP, the ledger accounts of sister concern companies must remain reconciled to ensure data consistency across related businesses.

Tools for Reconciliation:

  • Navigate to: Reports > Final Accounts > Sister Concern Position
  • Access via: Accounts Master (Top Button) > Sister Concern Position
  • Available in: Bank / Cash Entry Modules > View Entry > Check Sister Concern Position

Zooming and Auto Reconciliation features are provided to simplify inter-company ledger matching and adjustments.

Inter-Company Contra Entry Creation

Merciglobal Cloud ERP enables automatic creation of inter-company contra entries through the Bank/Cash Entry sections.

Steps to Post Inter-Company Contra Entries:

  1. Open any existing entry in the Bank or Cash module.
  2. If an Account Name in the grid matches a company under the same financial year, special buttons will appear below the grid.
  3. Use Check & Post Contra Entry to automatically create a mirror entry in the sister concern company's books.
  4. Click on Sister Concern Position to view a comparative statement across all linked companies.

Conclusion

This functionality in Merciglobal Cloud ERP streamlines financial operations between sister concerns, ensuring ledger accuracy and simplifying contra entries across companies.

For assistance or custom implementation, contact the Merciglobal ERP support team.