Create an Intercompany Entry

Intercompany entries differ from standard accounting entries as they involve transactions between different entities within the organization. Proper structuring is essential to maintain financial integrity and accurate reporting.

To create an Intercompany Entry:

1. Go to Close Management > Intercompany.

   
2. Select + Add Intercompany Entry.

   
3. Fill in the required fields in the Entry form:

   • Name: Enter a unique description for the intercompany entry.

   • Date: Select the date for the transaction

   • Customer/Vendor (optional): Specify any associated customer or vendor, if applicable.

   • Currency: The currency will be the currency of the organization.

   • Attachment URL (optional): If relevant, add a URL for any supporting documentation.

   • Attach Files: Upload any relevant supporting documents.

4. Enter the details for Entry Line Items :

   1. From/To: The entity originating the transaction will be shown on the 'From' lines and the receiving entity will be shown on the 'To' lines.

   2. Amount: Enter the amount for the transaction.

   3. Account: Select the appropriate account(s).

   4. Description (optional): Provide a brief description of the transaction.

   5. To add additional line items, click + Add Lines.

5. Click Create Entry to finalize the intercompany entry.