Transfer Inventory
The Transfer Inventory function in NetSuite is used to move inventory between locations within the same subsidiary. It’s a simple, immediate transfer where inventory is removed from the source location and added to the destination location at once. This method is best for quick, internal movements that don’t require shipping or receiving steps. Navigate to Transactions > Inventory > Transfer Inventory to use this feature.
Transfer Order
A Transfer Order is more structured than a simple inventory transfer. It’s used when you want to track the shipment of items between locations within the same subsidiary. It allows for separate shipping and receiving steps, which is useful for in-transit tracking and partial receipts. This is ideal for businesses with multiple warehouses or locations where goods take time to move.
Intercompany Transfer Order (ICTO)
An Intercompany Transfer Order is used to move inventory between different subsidiaries. This feature is available in OneWorld accounts and handles not just inventory movement, but also the financial impact across subsidiaries. It creates mirrored transactions (such as an intercompany purchase order and sales order) and can be set up for automation. ICTOs are essential for multi-subsidiary businesses that require inventory transfers with proper accounting and compliance.