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Intercompany Transfer Order at cost GL Impact
Hi Team,
We are doing a Intercompany Transfer with 0 price and Item Cost as Transfer Cost.
On Fulfillment transaction the GL Impact
Shipping Subsidiary
Intercompany Clearing Account Dr
Inventory A/c Cr
Receiving Subsidiary
Inventory in transit Dr
Intercompany Clearing Account Cr
--------------------------------------------------------------
On Item Receipt
Inventory A/c Dr
Inventory in transit Cr
The Intercompany Clearing accounts remains open. How should that be handled. When we do a Intercompany Sales and PO NetSuite will automatically the Intercompany clearing account automatically cancels out.
Basically my clients want to understand on what needs to be done of the clearing account and how others are handling it.
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