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This page explains how to set up the advanced intercompany journal posting
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Eliminate Intercompany Transaction Netsuite provides the option to automatically eliminate intercompany transactions. This option can be set on account settings. Currently the advanced intercompany journal feature doesn’t support the automatic elimination, so only accounts that do not have this option enable are able to work with this feature. If elimination is needed then this should be done manually. |
General setup
For creating an advanced intercompany journal the journal posting needs a clearing account and these should be set up for each “From” and “To” subsidiary combination. The “From” subsidiary is always the subsidiary listed on the bank statement and the “To subsidiary” is the selected subsidiary to where you would like to post the funds. The system will only show to the end-user configurations that are applicable to the subsidiary in which they are performing the reconciliation.
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