whats the difference between advanced intercompany journal and intercompany journal

AI generated answer (using internal Slack threads):

The main difference between an Advanced Intercompany Journal (AICJ) and a regular Intercompany Journal (ICJ) in NetSuite lies in their complexity and functionality. An Intercompany Journal Entry is a simpler form of recording transactions between subsidiaries. It allows you to record a single transaction that affects two subsidiaries. However, it requires manual balancing of the debit and credit amounts for each subsidiary involved in the transaction. On the other hand, an Advanced Intercompany Journal Entry is a more complex and automated form of recording transactions between multiple subsidiaries. It allows you to record transactions that affect more than two subsidiaries. One of the key features of AICJ is the auto-balancing feature, which automatically balances the debit and credit amounts for each subsidiary involved in the transaction. This feature is particularly useful for non-accountants as it simplifies the process of recording intercompany transactions. Another difference is that AICJ allows you to specify a 'due to/from' field within the journal, which can be useful for tracking parent investments in subsidiaries. This is not available in the regular ICJ. In summary, if you are dealing with transactions between more than two subsidiaries and/or require auto-balancing of transactions, you should use Advanced Intercompany Journal Entries. If your needs are simpler, regular Intercompany Journal Entries may suffice. ****** Disclaimer: This response was generated by an artificial intelligence assistant based on previous conversations from multiple Slack channels, and may contain inaccuracies or mistakes. ******