General Ledger & Intercompany

Get Involved. Join the Conversation.

Topic

    ERPNewbie
    Canceling Intercompany related transactions
    Topic posted October 21, 2019 by ERPNewbieRed Ribbon: 250+ Points, tagged Accounting Hub Cloud Service, Cash Management, Financials, Help Center, Intercompany, Payables, Period Close / Reconciliation, Receivables, Subledger Accounting 
    26 Views, 1 Comment
    Title:
    Canceling Intercompany related transactions
    Summary:
    is it possible to cancel Intercompany invoices/payment without reversing them via intercompany processes?
    Content:

    There's an incorrect intercompany transaction that was wrongly entered into the system. 

    Would it be possible to just cancel the related transactions (AP invoice and payment, AR invoice and payment) and not reverse the intercompany transactions?

    If yes will it have any negative impact on the ledger/reconciliation? Thanks so much

    Comment

     

    • Ravi Kanth Vuddagiri

      Try this in lower instance. Cancelling both AP and AR Invoice should be good for your case. After u do this run Intercompany reconciliation and see for any difference.