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Canceling and Reversing Intercompany Journals

You can cancel a "Complete" intercompany journal in the same way as other types of journal, by creating a canceling journal.

You can also cancel an intercompany reversing journal (both the original journal and the reversing one). See Creating a Canceling Journal for more information.

You cannot cancel the same journal a second time.

All of these abilities and restrictions apply in both the source and the destination company.

• When you cancel an intercompany journal in the source companyCompany that initiates an intercompany transaction., a new intercompany canceling journal with the same lines but opposite signs is created in the source company.
• When you post the new intercompany canceling journal, an intercompany transferObject used as a staging location for data used when transferring costs to other companies in the same organization. record is created.
• When you process the intercompany transfer, a new journal is created in the destination companyCompany that receives the costs during an intercompany transaction.. The journal in the destination company is linked to the original journal using the Original Journal Number field. The Journal Description field references the original journal too.

Canceling an intercompany journal in the destination company has no effect on the source company.

The canceling journal in the source company inherits the date and period from the original journal in that company. The canceling journal in the destination company inherits the date and period from the original journal in that company. In both cases, you can amend the period, reference and description fields only.

Reversing Intercompany Journals

You can reverse an intercompany journal by creating a reversing journal, but you cannot reverse any type of intercompany reversing journal, or any type of intercompany canceling journal. See Creating a Reversing Journal for more information.

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