Intercompany Income Account –
Select the account to use for intercompany income for this item. This account is used to record transactions between subsidiaries in NetSuite OneWorld accounts.
To be available for selection, an account must have the Eliminate Intercompany Transactions box checked. If the Eliminate Intercompany Transactions box is later cleared on the account, intercompany transactions cannot be eliminated.
The field is included on inventory-type items and the following resale item types:
- Non-Inventory
- Other Charge
- Service
The Intercompany Income Account set on the field prevails over the Intercompany Preference as to the GL Impact of Sales Transactions.
Here are some examples:
Sample 1:
- Intercompany Preference:
- Income Account = Income Account 1
- Item Record:
- Intercompany Income Account = Income Account 2
- Result: Intercompany Sale Transaction will post to Income Account 2
Sample 2:
- Intercompany Preference:
- Income Account = Income Account 1
- Item Record:
- Intercompany Income Account = – Use Income Account –
- Result: Intercompany Sale Transaction will post to the Income Account (non-intercompany) set on the Item Record.
Sample 3:
- Intercompany Preference:
- Income Account = Income Account 1
- Item Record:
- Intercompany Income Account = Income Account 1
- Result: Intercompany Sale Transaction will post to Income Account 1 which is also the same as the one set on the Intercompany Preference page.
Note: Upon Item creation, the Intercompany Income Account will default to the Income Account set on the Intercompany Preference page, if any. Otherwise, the – Use Income Account – will be the default value that pertains to the Income Account (non-intercompany) set on the Item Record.