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author's profile photo Former Member
Former Member

Intercompany Process

Hi Guys,

What are the journal entries that are passed during the intercompany process?

How does the intercompany process work.

Please let me know the journal entries that are passed.

Thanks,

Srikanth.

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  • author's profile photo Former Member
    Former Member
    Posted on Sep 09, 2009 at 07:27 AM

    Intercompany needs to be set up in the system thru OBYA. this is setting up the intercompany Receivable and Payable. Also you need to define the company as well.

    For example you post an entry to Company A which this company purchased item $500 worth for Company B,

    the system will post an entry in Company A and Company B and another document will be produced or the intercompany Receivable clearing or Payable clearing

    Expense (Company B) $500.00

    Cash (Company A) $500.00

    Intercompany Receivable (Company A) $500.00 (you will notice a trading partner Company B)

    Intercompany Payable (Company B) $500.00

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