How to set up ICT on Sage 300 Intercompany Transactions


  1. Open Intercompany Transactions > ICT Setup > Options.
  2. If the ICT company is a multicurrency company, a multicurrency option appears beside the Functional Currency field. To allow multicurrency transactions between companies, select this option, and then click Save.
    • Important! As elsewhere in Sage 300, once you select the multicurrency option and save it, you cannot change it.
    • Notes:
      • After selecting the multicurrency option, you must click Save before inserting companies.
      • When you select multicurrency, the functional currency of ICT A/P and ICT G/L transactions is determined by the originator.
      • When you select multicurrency, the source currency of ICT A/P transactions is determined by the vendor’s currency (as in A/P).
      • The source currency of a G/L transaction entry created in originating, intermediate, and destination companies is the functional currency of the ICT G/L transaction entry from which it came, if either of the following is true:
        • The originating, intermediate, or destination company is single currency.
        • The route level setting is No for the Keep Source Currency option.
          • Otherwise, the source currency is the same as in the ICT G/L line.
  3. Click the Update Company Information button.  Companies become available for selection in the Company column of the table.
  4. Enter posting and account information for each company for which you will be entering transactions.
    1. In the Company column of the table, click the Finder , and then select a company.
      • Notes:
        • The Finder displays companies that use the same system database as the ICT company. These companies must have the same versions of the same programs activated as those in the ICT company (for example, G/L). Companies that use other system databases do not appear in the Finder.
        • If no companies appear in the Finder, or if the Finder does not open, click the Update Company Information button again. If the Finder still does not open, check that the remote companies you want to use for transactions are using the same system database as the ICT company, and that their programs have been activated.
      • After you select a company, the company name, status (active or inactive), and functional currency appear in the table.
    2. Specify whether to post G/L and A/P batches for the company.
    3. Select an A/P Clearing Account for the company. (This cannot be a control account for a subledger and must be a multicurrency account for all currencies when multicurrency is on.)
      • Note: ICT Invoice Posting uses the A/P Clearing Account. After you select the account, users do not need to specify it each time they post.
  5. Click Save, and then close the screen.
  6. Add routes. For instructions, see “Adding Routes” (page 13).
  7. If you will post expense-separately taxes to separate G/L accounts in the destination company for each tax authority, add tax accounts. For instructions, see “Adding Tax Accounts” (page 14).
  8. If you need to define standard groups of distributions to general ledger accounts in destination companies that you use when entering vendor transactions, add distribution sets. For instructions, see “Adding Distribution Sets” (page 15).


If necessary, seek the assistance of Acute Data Systems to help provide assistance with this process.