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What is intra Company transactions? With an example
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Answer Posted / arun kumar
Intercompany transactions means transactions between
different entities under one legal entity.
For Ex:XYZ co have a different branches like abc/def/ghi in
where trasactions happens with these branches, like
transfer of funds or transfer of goods etc,
these types of transactions are called as intercompany
transactions, and both the entities balances should tally
in these type of transactions, if not bookkeeper not
recording the transactions properly or some fraud might
have been happened
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