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Irina

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  • May 20, 2016 at 7:54 am #315984
    d24fa7260cb0c66e0a4c5f7a107b1917945726d16f5410f2727fa9f1ee086d17 80Irina
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    Thank you very much for your reply!

    I would like to add some information, to make it clearer.

    The subsidiary is just INTERMEDIARY. The invoice is issued by the Electricity Company.

    The Electricity Company is issuing the invoice to the Subsidiary, which in turn, recharges the cost to the Parent, because the Parent is the one using that Electricity.

    This is why the Subsidiary books the entry using Sundry Receivables, and does not book ANY Revenue. Only the Parent books the related expense.

    [What do you think: Could it be that since the Subsidiary does not book any Revenue in association, then the Parent should NOT eliminate the Expense, as Intercompany?]

    Thank you again!

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