Shared Transactions Intercompany AP and AR Error
Error: Accounts Receivable and Accounts Payable lines marked for elimination must specify an Intercompany Customer or Vendor.
Answer:
This error occurs when the GL accounts entered in Netgain > Setup > System Setup are marked as Elimination accounts. Elimination accounts require the Intercompany Vendor and Customer are set up in order to run the intercompany journals.
Best Practice For Demo and Development accounts, easily avoid this required setup by changing the GL accounts in Netgain > Setup > System Setup to be non-elimination accounts. |
Set Up:
New Customers and Vendors need to be created between each Subsidiary to be allocated between. This means to allocate between Sub A and Sub B, 4 records must be created:
- Two customers must be created: a customer from A -> B and a second customer from B -> A
- Two vendors must be created: a vendor from A -> B and a second vendor from B -> A
NetSuite Setup: In order to create these customers and vendors, you will need to enable Intercompany Framework. If you enable this, it CANNOT be disabled. So please proceed after verifying with your Administrator or NetSuite Rep To enable, navigate to Setup > Company > Enable Features. Go to the Accounting Subtab and check the box next to Intercompany Framework. |
Navigate to Lists > Relationships > Customers. Click New Customer.
Enter an easily identifiable name, the Subsidiary that will be listed on the transactions, and the Represents Subsidiary that the expense will be allocated to.
Create a second New Customer that has the opposite relationship.
Repeat these steps for two New Vendors.
You intercompany allocations should run without a problem once this has been set up properly.