Intercompany Reconciliation

What is Intercompany Reconciliation ?

Intercompany reconciliation is the process of verifying and adjusting financial transactions between two or more companies that are part of the same corporate group.

What is the purpose of intercompany reconciliation ?

When multiple companies operate under the same parent company, transactions such as the transfer of goods or services, loans, or payments for shared expenses may occur between them. These transactions are recorded in the respective books of accounts of the companies involved. Intercompany reconciliation ensures that all these transactions are accurately recorded and balanced, and any discrepancies or errors are identified and corrected.

Intercompany accounting can be eliminated using collaborative processes, which include having full visibility of account balances of the underlying transactions. Learn more!

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