Inventory Control Entries
Multi-company inventory transactions may be recorded in one company to charge jobs in other companies for the use of Inventory owned by the first company. Spectrum allows the user the flexibility to transfer inventory from one company and charge it directly to expense for a job set up in another company.
COMPANY THAT OWNS INVENTORY
Debit | Credit |
Intercompany Account | Inventory |
COMPANY INCURRING EXPENSE
Debit | Credit |
Expense Account | Intercompany Account |