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We’re excited to announce that the 2025 Community Recap is now available! This special recap highlights the amazing contributions and achievements of our members over the year and celebrates the collective success of our community.
Check your personalized recap to see the impact you made in 2025 and how your efforts helped shape our community’s growth and success.
View Your 2025 Community Recap
Thank you to everyone for your passion, collaboration, and support. Here’s to building an even stronger community together in the year ahead!
IC Netting Clearing Account
Hello,
We recently started using the netting function in Netsuite to clear intercompany balances. We have two entities - first is in CAD, second is in USD. We were successful in netting the intercompany balances, and when we evaluate the consolidated balance sheet, everything looks to be in place.
However, when we generate a custom report (consolidated balance sheet with an added column for foreign currency), our AR/AP balances change. We also see that there is a new account, called "IC Netting Clearing Account" that has a negative other asset balance. When we click into this balance, it shows details of the netting to zero, not the negative balance.
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