Accounts Receivable and Accounts Payable
Transactions posted to the following accounts are eliminated during the period close process. Eliminations are automatically reversed in the following period. When you check the Eliminate Intercompany Transactions box for an Accounts Receivable or Accounts Payable account, the account can be used only for intercompany transactions. After transactions post to an intercompany A/R or A/P account, you cannot clear the Eliminate Intercompany Transactions box. NetSuite requires an intercompany customer or intercompany vendor for intercompany A/R and A/P accounts.
If an existing A/R or A/P account has balances from non-intercompany transactions, you cannot make it eligible for intercompany transactions.
|
Account Type |
Eliminate Intercompany Transactions |
Restricted to Intercompany Transactions |
Reverse Elimination Automatically |
Revalue Foreign Currency Open Balances |
|---|---|---|---|---|
|
Accounts Payable |
Yes |
Yes |
Yes |
Yes |
|
Accounts Receivable |
Yes |
Yes |
Yes |
Yes |