For OneWorld - why does Netsuite require 4 lines per advanced intercompany journal entry? Other softwares only require 2, a debit & credit for each one. Our situation is the subsidiary receiving the cash isn't going to pay it back, as it's a wholly-owned susbsidiary of the parent company and their P&L flows up the parent on an annual basis. The subsidiary is only separate as it is another state market and we want to see separate P&Ls.

Because how can you have a balanced gl for each subsidiary otherwise?

It would balance between companies?

You still need a balanced trial balance for each entity

If you have the Intercompany AP/AR accounts configured and set as the defaults under Accounting Preferences, you can use the Auto Balance feature for NetSuite to make the offsetting posting for each entity. Then you only need to show the Debit/Credit to Cash, and then select Auto Balance and it should function the same as your legacy system.

I guess the problem lies that there was no need to create a subsidiary as such. You could you use a class, or department or even a custom segment for these needs. A subsidiary is a separate legal entity with its own balance sheet, own bank accounts and so on. And if one subsidiary sends money to another, then one subsidiary becomes indebted to another.