Client Requirement – They have Intercompany Payable and receivable accounts. They need to create Journal Entries with these IC accounts to track the amount flow from one subsidiary to another. But they do not have any transactions associated with these. That is actually the money not flowing from one subsidiary to another. So they want… Continue reading Create Intercompany Journal Entries with only IC accounts
Tag: intercompany clearing account
How to deal with Intercompany Clearing Account (Interco Transfer Orders)
We have values posting to the system-generated account Intercompany Clearing Account when posting Intercompany transfer orders. I understand from SuiteAnswers that we can view the values posted here as a Payable and Receivable in each subsidiary. I’m fine with that and it makes sense. The problem is, the account can’t be selected for Intercompany Elimination… Continue reading How to deal with Intercompany Clearing Account (Interco Transfer Orders)