Linking another new document to an existing exchange transaction is called a ‘companion exchange.’ You can manually link additional new documents to an exchange in IAR by following these steps:
- Issue the new exchange transaction first.
- Issue the companion document on the same day as the NEW exchange (recommended).
- On the next business day, when the NEW exchange and NEW companion document load in IAR, on your sales report screen:
- Click the Document# of the NEW exchange.
- The Financial Details screen displays.
- Move to the ‘Exchanges: New Document’ section of the Financial Details screen.
- Enter the companion document number in the ‘Add 10-character New Document#’ box.
- Click the ADD button to add the new document to the exchange transaction.
Once linked, the exchange and the companion document become a single companion exchange transaction. It is identified on the IAR sales report in the transaction type (TT) column with the indicator of “CX.”
Companion exchanges include residual value MCOs/EMDs that are issued to transfer non-refundable residual value to the MCO to be used in a future exchange. Please see the previous TAC message PED 11/12/2023 (arccorp.com) for instructions on how to issue a residual value MCO or EMD so that it automatically links to an exchange to create a companion exchange. If the residual value document does not properly link to its exchange when issued in the GDS, you may also follow these steps to manually create the companion exchange link.
IAR supports using up to 20 new documents in a single companion exchange transaction. Similarly, IAR supports using up to 20 old documents in a single or companion exchange transaction. Not including residual value documents that automatically link to their exchange, you must manually link other new documents into an exchange to create a companion exchange.