Automated Intercompany Management Overview
The Automated Intercompany Management feature in NetSuite OneWorld enables you to manage intercompany transactions and automatically generate elimination journal entries. Previously known as Intercompany Auto Elimination, the feature was enhanced to include intercompany sales and purchases and intercompany inventory transfers.
With this feature enabled, NetSuite automatically generates elimination journal entries based on the intercompany transaction lines and intercompany journal lines marked to be eliminated. As part of the period close process, NetSuite evaluates the activity in your intercompany accounts. It then creates the journal entries to eliminate artificial profit and loss amounts. Without this feature enabled, you must manually create and track all intercompany transactions, and then manually create and post elimination journal entries.
The Automated Intercompany Management process involves the following activities:
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Create intercompany purchase orders per subsidiary, as needed. See Entering a Purchase Order.
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Generate intercompany sales orders from intercompany purchase orders. See Manage Intercompany Orders.
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Manage intercompany inventory transfers. See Managing Intercompany Inventory Transfers - Arm's Length.
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Enter advanced intercompany journal entries for other intercompany transactions. See Making Advanced Intercompany Journal Entries
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Reconcile intercompany transactions. See Intercompany Reconciliation Report.
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Run Intercompany Elimination from the Period Close Checklist. See Intercompany Elimination Overview.
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View the Intercompany Elimination report. See Intercompany Elimination Report.