Inter Company

J

Josvill2010

Registered User
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HI,

Our HQ paid for ESB deposit last year. It hit their P&L.
Now we have our own ESB account and we are considering transfering the deposit to our account.

How would you account for this in the accounts. Note that there will not be a IC transfer for this.

Dr Supplier a/c
Cr ?

Regards,
j
 
Cr P&L ESB. However, the proper way is to IC it but you don't want to do that for some reason.
 
Credit PnL - IC

Okay, I didnt want to Credit PnL. The books and IC in that company are closed. That was the reason.
PnL should be fine. It is the only alternative
Thanks Paddy199
 
Because HQ put it to P&L when it should have being IC. Unless that is undone, they have no option but to also reverse it to the P&L.
 
So it hit the P & L incorrectly and should be reversed.

of course it could also be so immaterial that nothing is done.
 
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