Sometimes, intercompany helps their related company pay for expense and pay them back after that. This example show you how to record it in both data.

Scenario: Company XYZ help Company ABC pay Electricity Bill RM530 and XYZ return ABC the money.

In Company ABC Data

Create a “Company XYZ” as Other Payment and Current Liabilities

Create Payment Voucher, pay by Bank / Cash to Company XYZ

Pay Back Company XYZ by Create Payment Voucher from Bank / Cash to Company XYZ

In Company XYZ Data

Create a “Company ABC” as Other Payment and Current Assets

Create Payment Voucher and Pay by Bank / Cash to Company ABC (Payment on behalf)

When received money from Company ABC, create Receive Voucher from Bank / Cash to Company ABC