September 16, 2024
4 min read
Intercompany transactions require offsetting entries in both entities, and elimination entries for consolidation. Creating these manually is time-consuming and error-prone, especially at month-end when volume is high.
We automated intercompany journal creation so transactions that cross entity boundaries automatically generate the appropriate offsetting and elimination entries based on configured rules.
When intercompany transactions are recorded, the system identifies the IC relationship and generates corresponding entries in the related subsidiary using configured IC accounts. Elimination entries are created for consolidation.
Automatic creation of IC offsetting entries
Elimination entries ready for consolidation
Balanced intercompany accounts without manual journals
Faster month-end close for multi-entity organizations
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