Intercompany Journals

You can also create intercompany journal entries to record manual adjustments between companies.

Scenario: Zylker Corporation creates a journal entry to adjust an amount from a previous transaction with Zylker Inc. Once published, the journal entry is pushed to Zylker Inc. for review and acceptance.

Note:

You can create intercompany journals only for intercompany contacts.
If manual journal permissions are removed or modified for a user, the changes will also apply to intercompany journals.

Create Intercompany Journals

When you create a journal for an intercompany contact and publish it, the journal is automatically pushed to the other company.

The other company can:

Review the journal
Accept it to create a matching record.
Reject it if changes are required. This ensures both organisations stay in sync without manual duplication.

To create and push an intercompany journal:

Go to Accountant in the left sidebar.
Select Intercompany Journals in the module bar.
Click + New in the top right.
In the Contacts field, select the intercompany contact. In intercompany journals, the contact is set at the journal level, so all line items share the same intercompany contact.
Intercompany journals must include at least one of the following account types: Intercompany AR, Intercompany AP, Bank, or Cash.
Click Save and Publish.

The journal entry will be created and pushed to the other company.

View Intercompany Journal Status

Each intercompany journal shows its progress using the following statuses:

Push In Progress: The journal is being pushed
Pushed: The journal has been successfully sent
Push Failed: The journal could not be sent
Accepted: The receiving organisation has accepted the journal
Rejected: The receiving organisation has rejected the journal

View Incoming Intercompany Journals

When an intercompany contact sends you a journal, it appears in the Incoming Intercompany Journals tab.

To view incoming intercompany journals:

Go to Accounting in the left sidebar.
Select Intercompany Journals from the module bar at the top.
Switch to the Incoming Journals tab.

The incoming intercompany journal entries are listed.

Accept Incoming Intercompany Journals

To accept an incoming intercompany journal:

Go to Accounting in the left sidebar.
Select Intercompany Journals from the module bar at the top.
Switch to the Incoming Intercompany Journals tab.
Click Accept & Create next to the journal entry you want to accept.
The New Intercompany Journal page opens with the list of accounts and amounts recorded in the incoming journal.
Record the corresponding amount using the required accounts.
Review the remaining details and make changes if needed.
Click Save.

A corresponding journal entry is created in your organisation’s books.

While accepting an incoming intercompany journal:

The Bank or Cash account type you select must match the account type in the incoming journal entry. For example, if the incoming entry uses a Cash account type, the corresponding entry must also use a Cash account type. However, the exact account can differ, such as Undeposited Funds or Cash in Hand.
The account type total and the overall journal total must match exactly.
The debit or credit side must match the incoming entry.
Individual line items do not need to match one-to-one.

Reject Incoming Intercompany Journals

If a journal entry is incorrect, you can reject it. The sender can then update and resend it.

Go to Accounting in the left sidebar.
Select Intercompany Journals from the module bar at the top.
Switch to the Incoming Journals tab.
Click Reject next to the journal entry you want to reject.
In the pop-up that appears, enter the reason and click Reject.