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Why is the Reversal Journal included in IC Netting?

edited Nov 3, 2022 9:56PM in Ask A Guru 2 comments

Hello Guru's,

we have found an old issue within the IC netting on our account.

We have booked following Advanced Intercompany Journal:

As you can see the journal has been reversed.

However for some reason both of the journals still appear in Netting. What happened back in the 2020 our accountant included the reversal in the Netting.


Could you please explain to us further how why the system allows you to include the Reversal in the Netting?

Another question is if it's best practice to use IC AR and IC AP Accounts and book on them in opposite way? Meaning booking Credit Amounts on AR Accounts and Booking Debit Amounts on AP Accounts? Because I would say it's not a best practice to do this..however as explained above, it is possible..

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