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Reversal of intercompany transactions

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Posted on by Yin Mon Pyone

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Dear Experts,

What is the correct way of doing reversal for intercompany transactions?

I am using the following way.

Create a GL Entry and Post in General Journal for Salary payment.
Use IC Journal by using " Suggest Intercompany Lines" and Transfer to Parent company. Post IC vouchers.
Reverse the voucher created in Step 1.
Then, use IC Journal again to suggest line, it won’t pick up reversed voucher (it won't come out anything)

Is this my way is correct or not? Is there any other way for reversal in between intercompany transactions?

Regards,

Sweety

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RE: Reversal of intercompany transactions

Sweety,

On the Intercompany General Journal page there is no function, for standard BC, called 'Suggest Intercompany Lines'. This sounds like someone has customized your BC database. I would talk to your Partner about this.

As a side note, if I was doing a GJ for Salary, I can do this off the General Journal and the line that applies to the IC Partner can be denoted when doing the entire entry, not having to do 2 entries. When I do the IC Outbox Transactions you will see the entry.

Hope this helps.

Thanks,

Steve

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