Intercompany Revenue Adjustments

Intercompany revenue adjustments are identified by a Rev Type of IC-Intercompany and allow you to debit or credit an offset account in the posting company and debit or credit contract revenue in another company.

When the IC type is selected, a Company field is enabled, allowing you to specify the job cost company to which the revenue 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 revenue adjustment is posted, GL accounts are updated as follows:

Posted From: Co 1

Posted To: Co 5

Amount: 1,000.00

Company #1 Company #2
Debit Credit Debit Credit
1,000.00 1,000.00 1,000.00 1,000.00
Offset Account Intercompany AR Intercompany AP JC Revenue Account
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