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Inter-Company Journal Entries Accountant Forums

Oct 11, 2019 · Hello, I'd like to know if my inter-company journal entries for recording an expense paid on behalf of a wholly owned subsidiary is correct. Note, that the sub has it's own set of books. Let's say the parent company is paying rent for their subsidiary company by transferring cash to the...…

Internal Transfers / Journal Entries Columbia University ...

Unlike general journal entries, internal transfers are limited to a narrower range of options to ensure transfers are easily identifiable for reporting purposes and are one to one and equal in amounts. In Columbia University's Chart of Accounts, the ranges of accounts number that can be selected for internal transfers are as follows:…

Intercompany Loans - bookkeeping-essentials.com

Transfer of funds from Company B to Company A: DR Due to/from Company A CR Cash in Bank It is preferable when dealing with intercompany transactions, that actual cash transactions take place instead of just journal entries. So don't just journal a loan payment to Company A; physically transfer cash to Company A's bank account too.…

Intercompany Expenses and Transfers

Intercompany Expenses and Transfers. by Melissa (Toronto ON Canada) ... I'd tackle inter-company transactions next by making the known inter-company correcting journal entries (or directly edit transactions) charging any entries that should have gone into the inter-company account. ... Once I had accounted for all the petty cash receipts, I'd ...…

Understanding Intercompany Settlements

13.1 Intercompany Settlements. If your organization has transactions between companies, the companies will be out of balance unless you create and post intercompany balancing entries. You create intercompany settlements to ensure that each company's net ……