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Intercompany Transfer Pricing Issue

edited Nov 28, 2019 11:51AM in Accounting / ERP 14 comments

Has anyone else noticed an issue with intercomany transfer pricing in OneWorld?  If transfer price is not at cost, consolidated reports are inaccurate.  How do people deal with this and determine the elimination entry required to correct?

Here is a scenario:

Parent Company
• Inventory item cost = $10/unit
• 10 units for a total cost of $100

Parent Company transfers 2 unit to Child Company with a transfer price @ $22.
This creates the following entries:
Fulfill (Parent)
                Dr Inv in Transit                  $44
                Cr. Inv Asset                       ($20)
                Dr. Rev                                 ($24)
Receipt
                Cr. Inv in Transit                ($44)      (Parent)
                Dr. Inv Asset                      $44        (Child)
                Dr. InterCo                          $44        (Parent)
                Cr. InterCo                          ($44)      (Child)

This would give a total inventory value of:

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