Intercompany: How to create a paired intercompany invoice and vendor bill

How many times have you created an intercompany bill and lost track of if you created the corresponding intercompany invoice to offset? Or you are doing your audits and take forever to find the corresponding intercompany transaction?

NetSuite has a Paired Intercompany Transaction field that will help link the respective intercompany invoices and vendor bills together. This function is very similar to the Manage Intercompany Sales Order function, which links the intercompany purchase order to the sales order. If you create standalone intercompany invoices and vendor bills, this is a best practice to help cut down on reconciliation.

Here are the steps to created that intercompany link between invoices and vendor bills:

1. Start with adding the Paired Intercompany Transaction field to the invoice and vendor Bill
   1. Go to Transaction --> Sales --> Create Invoice --> Customize Form (note: customizing forms is an Administrator function)
      1. Go to Screen Fields --> Main --> Paired Intercompany Transaction field, mark Show and move it to Primary Information section of the header.
      2. Save
   2. Go to Transaction --> Payables --> Enter Bills --> Customize Form (note: customizing forms is an Administrator function)
      1. Go to Screen Fields --> Main --> Paired Intercompany Transaction field, mark Show and move it to Primary Information section of the header.
      2. Save
         

2. Create the intercompany invoice and corresponding intercompany vendor bill
   1. Make sure to use the respective intercompany customers and vendors
3. Go back to the invoice and bill and Edit --> Paired Intercompany Transaction --> select the corresponding transaction.
4. Tips:
   1. Only approved invoices and bills will show up in the drop down in the Paired Intercompany Transaction field
   2. To delete a paired transaction, you must first remove the link by going into the Paired Intercompany Transaction field and select blank.

If you have any questions with pairing intercompany invoices and vendor bills, please reach out to Concentrus. We have intercompany Solution Consultants to help answer your questions.

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