Just wondered if anyone could help on a query I have. Two companies A and B. A in the UK and B in Australia - Companies are run separately but have same MD.
Company B (Oz) transfers monies over to Company A (UK) for payment of time the MD has spent on projects over there.
OK thats all fine........when I asked for an invoice to match the payment I was asked if I could just do a journal for these monies. Therefore creating a journal CR sales and DR the bank......therefore no invoice on the system but a journal detailing the transaction as an intercompany transfer.......can this be done?
As it's income for the UK company I think you just need to create a sales invoice in A's books made out to B, and then book the cash receipt against it. Job done!
