New to NetSuite | Setting Up Intercompany Elimination Accounts

Following our overview in "New to NetSuite | Enabling Automated Intercompany Management," we are now exploring further intercompany settings.

This article focuses on defining intercompany preferences, particularly how to set up the default general ledger elimination accounts for your transactions.

To define intercompany accounts:

1. Using an Administrator role, navigate to Setup > Accounting > Intercompany Preferences.

2. On the Accounting subtab, within the Default Intercompany Accounts section, define the following intercompany general ledger elimination accounts.

a. Receivables Account:

b. Payables Account:

c. Income Account:

d. Expense Account:

e. COGS Account:

f. Deferred Revenue Account:

Note: The Netting Clearing Account is automatically created by the system when the