Intercompany Sales: Generated Transactions
As you perform intercompany sales, you create and process an AR invoice. To update the account balances, the system generates and posts the GL transactions described in the following sections.
Transaction Generated for an AR Invoice
When you create and release an AR invoice, the system generates the following general ledger transaction:
| Branch | Account | Debit | Credit |
|---|---|---|---|
| SWEETEQUIP (Selling branch) | 19010 - Accounts Receivable - Related Company | Amount | 00.00 |
| SWEETEQUIP (Selling branch) | 43000 - Related Company Sales | 00.00 | Amount |
You can view the reference number of the GL batch on the Financial tab of the Invoices and Memos (AR301000) form.
Transaction Generated for an AP Bill
When the system creates an AP bill based on the AR invoice you created, the system generates the following general ledger transaction after release of this bill:
| Branch | Account | Debit | Credit |
|---|---|---|---|
| MHEAD (Purchasing branch) | 26010 - Accounts Payable - Related Company | 00.00 | Amount |
| MHEAD (Purchasing branch) | 53100 - Intercompany Expenses | Amount | 00.00 |
You can view the reference number of the GL batch on the Financial tab of the Bills and Adjustments (AP301000) form.
Transaction Generated for an AP Payment
When you create and release an AP payment to pay the automatically generated AP bill, the system generates the following general ledger transaction:
| Branch | Account | Debit | Credit |
|---|---|---|---|
| MHEAD (Purchasing branch) | 10200 - Company Checking Account | 00.00 | Amount |
| MHEAD (Purchasing branch) | 26010 - Accounts Payable - Related Company | Amount | 00.00 |
You can view the reference number of the GL batch on the Financial tab of the Checks and Payments (AP302000) form.
Transaction Generated for an AR Payment
When you create and release an AR payment for an intercompany AR invoice, the system generates the following general ledger transaction:
| Branch | Account | Debit | Credit |
|---|---|---|---|
| SWEETEQUIP (Selling branch) | 10200 - Company Checking Account | Amount | 00.00 |
| SWEETEQUIP (Selling branch) | 19010 - Accounts Receivable - Related Company | 00.00 | Amount |
You can view the reference number of the GL batch on the Financial tab of the Payments and Applications (AR302000) form.