In this article and video we will explain how to setup intercompany
accounting so that you can use intercompany journals for ledger
transactions.
1. Define Main accounts
First, you must create the intercompany main accounts to use for the Due
to and Due from accounting entries. It's a good idea to use unique main
accounts for each company, to simplify the reconciliation and
elimination of intercompany accounting entries
2. Define journal names
Next, you must define a journal name. Set the Journal type field to
Daily on the Journal names page.
3. Define intercompany accounting setup
The Intercompany accounting page is used to create the pairs of legal
entities that can transact with each other. The Intercompany accounting
setup is shared, so the setup is visible from within all legal entities.
Define Originating company and Destination company accounts
General ledger → Posting setup → Intercompany accounting
