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A could be set up as a vendor in B. B enter invoice for any purchase from A.

newstudents(仲夏之雪)

Then, a credit bill can be used to book the purhase against intercompany account. Once the payment is made, you can book a fund transfer from intercompany account (Dr. Intercompany Account Cr. Bank). Actually, the fund transfer can be done at year-end to close intercompany account balance accumulated during the year. Not really necessary for every single intercompany transaction.
On the reverse side, A will set up B as a customer in system. A enter invoice for any sales to B. Then a credit invoice can be used to book the sales against intercompany account. All remaining procedue are same as B's but on the reverse side.

(#63509@41)
Last Updated: 2012-4-6

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求助：老板有公司A和B，A在加拿大，B在美国。A提供Products给B，B transfer money to A。B 有 A 开的 invoice。 B 的财务软件用 Quick Book，问题是：recording procedure 是怎样的？要用 intercompany account。谢谢帮助。 -tinaqu918(lulu); 2012-4-4 (#63471@41)

upupupup,thanks,thanks,thanks. -tinaqu918(lulu); 2012-4-5 (#63480@41)

are you A or B or both? why don't you check previous transactions? -gohomenextyear(jane); 2012-4-5 (#63482@41)

I am B -tinaqu918(lulu); 2012-4-5 (#63483@41)
Accountant(in States) said previous transaction were wrong, she wants use intercompany account.thanks -tinaqu918(lulu); 2012-4-5 (#63484@41)

I am not sure if I understand your question correctly. Here is how I will do. -xiaobizhou(xiaobizhou); 2012-4-5 {358} (#63489@41)
1) Set up A as a Vendor and the Account code default to A is the code you used for intercompany.
2) Each time when you receive the invoice, you process as normal invoice, but since the default account is for your intercompany account, the result will be what your accountant wants, and this is very easy to reconcile with A company.

Hope this could help.

If do it in GL, how is recording procedure? Thank you Xiaobizhou. -tinaqu918(lulu); 2012-4-6 {265} (#63502@41)
Thank you Xiaobizhou, I am dong Enter Bill for vendor A when I receive the invoice and Creidt Bill when I transfer money from B to A, but Accountant wants use intercompany account instead debit and credit accounts payable. I don't know how to process it.Thank you.

I wouldn't recomment enter it by GL entry because it is a bit hard to track history. -newstudents(仲夏之雪); 2012-4-6 {135} (#63507@41)
You can still enter bill through AP then enter credit invoice using intercompany account. BTW, I am using a different software than QB.
A could be set up as a vendor in B. B enter invoice for any purchase from A. -newstudents(仲夏之雪); 2012-4-6 {628} (#63509@41)
Then, a credit bill can be used to book the purhase against intercompany account. Once the payment is made, you can book a fund transfer from intercompany account (Dr. Intercompany Account Cr. Bank). Actually, the fund transfer can be done at year-end to close intercompany account balance accumulated during the year. Not really necessary for every single intercompany transaction.
On the reverse side, A will set up B as a customer in system. A enter invoice for any sales to B. Then a credit invoice can be used to book the sales against intercompany account. All remaining procedue are same as B's but on the reverse side.

Thanks newstudent, -tinaqu918(lulu); 2012-4-9 {262} (#63546@41)
I am sure that Dr. intercompany and Cr. Bank when transfer money from B to A. I just confuse invoice entry, if still make enter bill in Quick Book, then we got Dr. sales expense and Cr. accounts payable, right? my question is how to balance intercompany account?

Intercompany account -herrcui(会计路漫漫); 2012-4-7 {750} (#63525@41)
如果你们从来没有用过intercompany account,那我觉得你们可以创建一个新的account.
我那我们公司的操作方式给你做例子吧：
Account: owing (to)/from A (A是你们加拿大公司的称呼）
A公司bill你们marketing fee,invoice你们：
B就 dr. mkt fee. cr. intercompany, 比如说10k
A和B公司每个月里面的transaction都挂到这个i/a.如果你们需要付A,就cr. intercompany.如果A公司需要付你们，就dr. intercompany.
这个intercompany account可以用作为ap/ar account.
到了月底，如果balance是cr,那就说明你们需要付A.如果balance是dr，那就说明A欠你们钱。
月底的时候你可以做一个intercompany schedule,相当于reconciliation,把这个月所有发生在a,b之间的transaction都列出来。
如果b需要付a,那就做一个intercompany transfer,顺便把这个schedule发给a公司的会计，告诉他们你付的这个款额是怎么算出来的。

非常感谢你，会计路漫漫，您知道在QB中如何操作吗？万分感谢。 -tinaqu918(lulu); 2012-4-9 (#63547@41)

如下： -gohomenextyear(jane); 2012-4-9 {324} (#63559@41)
in B's QBS,
set up bank a/c: Interco transactions(name depends on what you want),
when receive A's invoice, record it to Accounts Payable,
when need to pay A, transfer money to Interco bank a/c, pay A thru interco a/c

If you have more interco transactions, you need to set up interco a/c - other current liabilities
不好意思，我不会用qb. -herrcui(会计路漫漫); 2012-4-9 (#63563@41)

@Las Vegas

A could be set up as a vendor in B. B enter invoice for any purchase from A.

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