Description
Create a Journal Entry between the home location and multiple intercompany locations through an allocation Journal Entry. This entry is created in the user interface by selecting an IC Location, clicking the 3 stacked lines icon next to the IC Location, and adding the IC Locations as required.
Example
In the below example, the global holding company is allocating a general expense of $100 between two subsidiaries.
Selected Subsidiary 1
Clicked 3 stacked line icons
Selected Subsidiary 2
Input the line items for Credit to Cash in Global Location and Debit to IC Receivable
Input the line items for Debit Expense for Subsidiary 1/2 and Credit IC Payable
The IC Lines were set to eliminate when being viewed at the consolidated parent
Resulting Journal Entries
From the example, two IC Journal Entries will be created, one for the IC Journal Entry between Global<>Subsidiary 1 and one for the IC Journal Entry between Global<>Subsidiary 2.
Journal 1:
Journal 2:
