Invoice Liability accounting for intracompany accounts
Company 1010 pays company 1038's invoices. Invoices are entered using 1038 as the company segment on the distribution. This creates an entry to 1038 for the liability when accounting is created. Entry is:
DR 1038 (Payables invoice distribution)
CR 1038 liability
Since Company 1010 is paying the invoices for company 1038, the liability should stay in 1010 and intracompany accounts should be used. Client wants following entry:
DR 1038 (Payables invoice distribution)
CR 1010 liability
CR 1038 Intracompany
DR1010 Intracompany
How can we setup payables to automatically create the entry that creates the liability in the 1010 company, when the 1038 account is used on the invoice distribution?
Thank you,
Elly
DR 1038 (Payables invoice distribution)
CR 1038 liability
Since Company 1010 is paying the invoices for company 1038, the liability should stay in 1010 and intracompany accounts should be used. Client wants following entry:
DR 1038 (Payables invoice distribution)
CR 1010 liability
CR 1038 Intracompany
DR1010 Intracompany
How can we setup payables to automatically create the entry that creates the liability in the 1010 company, when the 1038 account is used on the invoice distribution?
Thank you,
Elly
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