Can we apply intercompany bills and invoice without messing up the consolidation etc. In Sub 1 books - Net settle Sub 2 AR and AP In Sub 2 books - Net settle Sub1 AR and AP

do you have the same currency in all subs?

No we don't have. We're just trying to offset the AR and AP to have just one net AR/AP line

Look up Arms Length Intercompany transfers. During ME process an elim JE is created automatically.

@Pat Oxida, unfortunately, with you MUST create PO first, then all transactions stem from that PO. pairing will not work with transitions in different currencies. so, create PO, generate SO, invoice, VB, and payments. Make sure to setup your intercompany stuff properly. It will eliminate during period close.

best way we've found to net settle is to use a cash clearing account (customer payment + vendor payment). By tagging the right customer and vendor, Netsuite puts all the right tags on them so they eliminate with the bills and invoices

@Jon Kears if the currencies are different, do you just record the forex gains/losses manually via a JE against the remaining balance of the cash clearing account?

@Luis - yeah that's right, or you can just manually force the rate on the "foreign currency" cash transaction