How to define Intercompany Transaction in AR

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manojbhawsinghka

  • Jul 4th, 2008
 

Before answering the above question let us first understand the meaning of Intercompany transactions. Intercompany transactions are those transactions that takes place between two or more entities of the same group of company. So the receivable of one entity would the payable of another entity. All intercompany transactions are eliminated befor preparing the final Balance sheet of the group company.

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