Skip to Content
author's profile photo Former Member
Former Member

Clearing Intercompany payable and receivable accounts

Hi All,

We don't have consolidation module. I would like to know how to clear off the inter company payable and receivable GLs at the end of the month.

The intercompany accounts are hit for example when I post entry like below:

Debit Expense Company code 1000

Credit Bank Company code 2000

Auto entries generated:

Credit Intercompany Co Code 1000

Debit Intercompany Co Code 2000

So how do I clear off these transactions please help ? I don't have consolidation modules so I don't use F.2E.

Thanks in advance !

Add comment
10|10000 characters needed characters exceeded

3 Answers

  • Posted on Jan 30, 2015 at 02:38 PM

    Hi,

    take a look on this link. You will have a good scenario for processing understanding

    Cross-Company/Inter-company transactions

    regards

    Add comment
    10|10000 characters needed characters exceeded

    • Insomniac,

      You can clear off those open items using your intercompany accounts. The will remain USD 500 to be received.

      In order to receive this amount in a simple standard way you can create a Customer master record as Company Code to enable EDI file via F110, or execute manual incoming payment through F-28 allowing multiple company codes.

      regards

  • author's profile photo Former Member
    Former Member
    Posted on Feb 12, 2015 at 06:02 AM

    Thanks all you guys for the helpful responses 😊

    Add comment
    10|10000 characters needed characters exceeded

  • Posted on Jan 30, 2015 at 12:23 PM

    Hi Satan,

    Generally inter company payables & receivables are adjusted by receiving/paying off the balance or capitalize it in respective company codes.

    Suppose if payables are outstanding in one co.code, then you have to create a GL account under investments or loan and advances and post it to this GL and same thing will do for receivables also.

    Regards,

    Mukthar

    Add comment
    10|10000 characters needed characters exceeded