Yes, you can indeed move a balance from one legal entity to another legal entity.

 

To do that you would do the following :-

 

  1. Make sure that have a chart of account code that is used for the intercompany movements, and it has a tick on for Interco.

 

 

And a chart of account rule that has the attribute Interco listed and is ticked for required.

 

 

  1. On creating your manual journal, you would use the document type of Interco Journal.

 

 

  1. And place in the legal entity field the company where the money is now. In my example Big Bad Publishing Limited.

 

 

  1. And under the Contact account place in the legal entity that the money is going to in my example Big Bad Publishing America.

 

 

  1. Top line is the general ledger code that you are wanting to move the balance from and so it would be a credit entry, my example is £150 from g/l code 10010.

 

 

  1. Now the second line needs to go to that intercompany account, and the Interco attribute needs to be populated with the legal entity that the money is going to.

 

 

  1. On submitting that journal, iplicit will generate you another manual journal. Debiting the legal entity in my example to g/l code 10010. The values also show differently due to the base currency of the legal entity.