Intercompany Cost Adjustments

Intercompany cost adjustments are identified by a JC Type of ‘IC’ and allow you to debit or credit an offset account in the posting company, and debit or credit costs to a job in another company.

When this type is selected, a Company field is enabled, allowing you to specify the job cost company to which the cost adjustment will be posted. You will need to specify an Offset Account for the posting company to allow for proper updates to the appropriate GL accounts.

When an intercompany cost adjustment is posted, GL accounts are updated as follows:

Posted From:  Co 1
 Posted To:        Co 5
 Amount:            1,000.00

Note: Reversals cannot be done through intercompany entries. Additionally, once entries are posted, they cannot be added back into a batch for further editing or deletion. Corrections must be done by entering new adjustments.Additional Information