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4,014I am trying to setup some sample data for Intercompany transactions. I have following questions:
1) In standard practice, is it better to use separate accounts for "Due To" and "Due From" or use combined "Due To/From" Account Number for both?
2) In the Account Maintenance, What should be the "Posting Type", "Typical Balance" and "Category" for Intercompany Accounts - "Due To", "Due From" or "Due To/From" Accounts?
3) What is the standard naming convention for segments for those Accounts? Should I name the accounts -2XXX- similar to AP account?
4) How are the balances in those accounts handled after the intercompany transactions they are posted? Do the Companies enter payments to each other?
Thanks.
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