About Processing Internal Transfer Journals

You can automatically transfer distributed amounts to stakeholder accounts as journal entries rather than generating invoices for the amounts. This type of journal entry is referred to as an internal transfer journal.

You can create internal transfer journals for stakeholders that are set up with the "Create journals" option enabled.

If cost distributions for stakeholders are covered by partner contributions, the internal transfer journals include additional debit and credit journal lines to account for the partner contribution amount.

Generating internal transfer journals enable you to:

• Eliminate manual accounting errors in the month-end close process.

• Minimize the time it takes to account for journal entries during the month-end close process.

After you create internal transfer journals, you can review them in the Joint Venture Subledger in Subledger Accounting or in General Accounting.