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Entering Intercompany Transaction Journal Lines

Intercompany transaction journal lines must be entered for both the sending and receiving subsidiary. Each subsidiary's completed journal entry will consist of one or more lines of offset accounts and their amounts and one intercompany clearing account whose transaction amount balances the journal.

   To enter intercompany transaction journal lines:

Note: As you enter your journal lines, General Ledger will calculate the journal balancing amount and enter it in the appropriate column (Debit or Credit) of the Intercompany Clearing Account line.

Once you are done entering your journal lines, the intercompany clearing account amount must be the same as the amount, if any, entered in the Control field. If not, you will get an error when you submit the intercompany transaction.

If you are entering the receiving subsidiary's transaction journal lines, the intercompany clearing account amount must offset the sender's intercompany clearing account amount. For example, if the sender's amount is a debit of $20,000, your amount must be a credit of $20,000. If not, when you approve the intercompany transaction you will get an error noting that the transaction is out of balance.

See Also

Entering Intercompany Transactions

Defining Recurring Intercompany Transactions

Reversing Approved Intercompany Transactions

Deleting Approved Intercompany Transactions

Running the Intercompany Transfer Program

CENTRA Overview

Defining CENTRA Subsidiaries

Defining Intercompany Transaction Types

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