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The GL Effect in Financials
| FinCo | Account | Dr | Cr |
|---|---|---|---|
| 02 Plant | |||
| Plant Issue | 901 InterCo 01 | 550* | |
| 210 Plant Recovery | 550 | ||
| InterCo AR Invoice | 901 InterCo 01 | 550* | |
| Output GST | 55 | ||
| Debtors (01 Client) | 605 | ||
| 01 Projecting | |||
| AP Invoice | 450 Plant Costs | 550 | |
| Input GST | 55 | ||
| Creditors (02 Supplier) | |||
* Intercompany resolves
If it is desired to show the balances of the "loan accounts" in the balance sheets, a manual journal could be entered to to a B/S account with the balance of the intercompany debtors and creditors accounts. This is in effect the loan balance.
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