Intercompany Transaction - IC General Journal
The scenario below is Headquarter charge the service free from subsidiary company. The transaction uses the Intercompany Journal for the process.
| Process by | Steps |
|---|---|
| Headquarter | Create Intercompany General Journal 1. Choose the |
2. Select batch if needs | |
3. Enter the Journal Line then preview posting and then post the journal when the journal line is ready to post. *IC Partner G/L Acc. No. -enter the intercompany general ledger account that the amount will be posted to in your partner's company. *Account Type - for the entry it related to your IC partner, select the type Customer, Vendor, or IC partners according to your setup for the IC partner. | |
4. Preview Handled Intercompany Outbox Transaction *if Auto Send Transaction is actived in Intercompany Setup, the IC transaction to be auto send to the IC partner and you can see the transaction in Handled IC Outbox Transaction*. *if auto send transaction is no actived, please go to Intercompany Transaction Outbox to send the tranaction to IC Partner.
*to preview the transaction details, select Outbox transaction => Details.
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| Subsidiary | Process the Intercompany journal 1) Choose the *if Auto Accept Transaction is actived in Intercompany Partners, the IC transaction to be auto accepted and you can see the transaction in Handled IC Inbox Transaction*. *if auto accept transaction is no actived, please go to Intercompany Transaction Inbox to accept the tranaction.
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2) Go to Intercompany General Journal, the journal entry for the IC transaction to be created by system System will create intercompany general journal into the batch according to the default batch setup in Intercompany Setup, preview posting and then post when the entries is ready to post. (1) IC partners docuemnt to be populate into External Documnet No. field (2) Account No. = IC Partner G/L Account No. it enter in the original IC journal it send from the intercompany
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