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I am trying to do just a basic intercompany journal entry and I am struggling to identify what fields need to be filled out, and what can be left blank. Does every line need to be an intercompany account? For example, I am trying to do the following:
Entry in Company A:
Credit bank account in Company A
Debit Expense account in Company A
Debit Expense account in Company B
Debit Expense account in Company C
I am given a message "IC Partner G/L Acc. No. must have a value in Gen. Journal Line" but I don't want an IC Partner G/L Acc. No on the first two lines.
Any guidance would be appreciated.
You'll have to fill in the journal as individual lines in Company A journal as follows
Cr Company A Bank Account, this is your normal bank account and won't require a G/L Account
Dr Company A G/L Account, don't forget the VAT/GST calculations
Dr IC Partner Company B and select an IC G/L Account
Dr IC Partner Company C and select an IC G/L Account
In Company A this will post to the Bank Account and G/L Account for the expense. Also in Company A it will post to the IC Current account and generate IC Outbox transactions
I have found that BC seems to post backwards (from bottom to top) so it may look like it's asking for an IC G/L Account on the first line but it's just the first line that it's posting, not necessarily the first line displayed in the Journal.
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