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at the end of each month, the consolidated intercompany accounts receivable and intercompany accounts payable should have the same balances, a debit for the intercompany a/r and a credit for intercompany a/p. i know of a company where it was not infrequent to have the intercompany accounts out of balance through several million dollars every month.
it should be clear that the corporate controller for the parent company is the final mediator in the reconciliation of intercompany account arguments with and between subsidiaries, unless the resolution is in violation of a law. remember, the policies are in place as a protection for the organization and the basis for processes and procedures that comply with the policy. in this situation, a third party can help in the reconciliation procedure or in troubleshooting the policies, processes and procedures to make sure a reliable process for intercompany reconciliation.
intercompany accounts are accounts in an organizations’ general ledger that represent a balance of payments due from, 1. reasons for intercompany reconciliations 2. intercompany reconciliation procedures 3. examples of during the procedure for design intercompany reconciliation excel template, it’s important to think , intercompany reconciliation template excel, intercompany reconciliation template excel, how to improve intercompany reconciliation, how to reconcile accounts receivable in excel, intercompany reconciliation journal entries.
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