Home For accounting professionals General accounting discussion
Current updates regarding coronavirus (Covid-19) and the precautions AAT are taking will be continually updated on the below page.

Please check this link for the latest updates:
We hope you are all safe and well and if you need us we will be here. 💚

Intercompany transactions

We have several companies in the same group. Only one has a bank account, so is paying for items for the other companies. The items are wages, computer and stationery so far.
I have been trying to get clarification on how best to deal with these transactions. As they are only being paid for, not 'supplied', am I right in thinking these are not taxable supplies, and so therefore are ok to be journaled through intercompany rather invoiced to the other company?


  • jul2614jul2614 Registered Posts: 9
    Sorry, I'm not sure which forum you are referring to?
  • jul2614jul2614 Registered Posts: 9
    Ah, sorry yes, I'd forgotten about that. Unfortunately, I am still confused
Sign In or Register to comment.