The Advanced Intercompany Journal Entry features debits and credits to ledger accounts between the originating subsidiary and multiple receiving subsidiaries. This record type is only available for the One World accounts.
Let's start by creating a template.
In this video, we will show you how to create an Advanced Intercompany Journal Entry via ExtendInsights.
Template Layout
💡 Tip: It is best to check out the forms and fields and identify the header, column, and required fields in NetSuite that you may need to build the template.
If you are using NetSuite Classic Interface you can go to:
Path: Transactions > Financial > Make Advanced Intercompany Journal Entries
Tran Id
Subsidiary
List List: Line Subsidiary
Line List: Account
Line List: Debit
LIne List: Credit
Line List: Entity (Also shown as Name field)
Create an Advanced Intercompany Journal Entry
Step 1: Add header level details and repeat the values to match the number of lines you want to create. The system will know that this is one record.
💡 Note:
You must have at least four-line items to submit an advanced intercompany journal entry transaction.
When making an advanced intercompany journal entry for intercompany receivable and payable accounts, the system will require you to enter intercompany customer and vendor (Line List: Entity) respectively.
The maximum number of lines per journal entry is 1,000 when using synchronous SOAP web services processing. With asynchronous SOAP web services processing, the limit is 10,000 lines.
More about Advanced Intercompany Journal Entry here.
Step 2: Send the record to NetSuite, click Upload to NetSuite, and hit the Upload Records button.