what is the difference between a intercompany transfer and inventory transfer

AI generated answer (using internal Slack threads):

An Intercompany Transfer and an Inventory Transfer in NetSuite have different purposes and impacts on the General Ledger (GL). An Intercompany Transfer is a transaction that moves inventory from one subsidiary to another. This is typically used when subsidiaries in different locations or countries need to share inventory. The GL impact of an intercompany transfer includes entries to the Inventory in Transit and Inventory Asset accounts, as well as the Intercompany Clearing Account. The Intercompany Clearing Account is credited for the subsidiary receiving the inventory and debited for the subsidiary sending the inventory. These entries should eliminate at the consolidated level, but when viewing each individual subsidiary, you will see the balances. On the other hand, an Inventory Transfer is a transaction that moves inventory from one location to another within the same subsidiary. This is an instant move when the transaction is created. The GL impact of an inventory transfer is a debit and credit of the same amount from two locations, resulting in an overall impact of zero on the account. However, if there was a negative position on inventory in one location before the transfer was made, NetSuite does hit the sales account to make up for that. ****** Disclaimer: This response was generated by an artificial intelligence assistant based on previous conversations from multiple Slack channels, and may contain inaccuracies or mistakes. ******