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Process Intercompany Transactions

Overview

The steps below illustrate how to record intercompany purchase and sale transactions from GL Ledger Actual-US to GL Ledger Actual-CA, and how to reclassify expenses from GL Ledger Actual-US to GL Ledger Actual-CA.

Warehouses

Set up two warehouses with corresponding GL Ledgers.

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Read Multi-Currency Configurations for more information on how to segregate inventory by GL Ledgers.

Intercompany Sales Orders

Enter a Sales Order with the Sell-to Customer, Warehouse, and GL Ledger fields filled in.

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When posting sales invoices, you will get the following GL Entries:

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Intercompany Purchase Orders

Enter a Purchase Order with the Buy-from Vendor, Warehouse, and GL Ledger filled in.

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When posting purchase invoices, you will get the following GL Entries:

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Intercompany General Journals

To reclass expenses from Actual-US to Actual-CA, enter the fields indicated in the image below on the General Journal lines.

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Fields

Field Help

Is Intercompany

Set to True

GL Ledger

Should leave it blank

GL Account

Should start from the GL Account that you want to reclassify amount to other subsidiaries. The offset GL Account should be Due To/Due From for the To Subsidiary.

Transaction GL Ledger

Should be populated with the subsidiary’s GL Ledger. The total Debit must equal to the Total Debit of each Subsidiary.

Customer/Vendor Account

Should be the Account set up for the other subsidiaries

When posting the intercompany General Journals, you will get the following GL Entries:

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