Home – New Forums Starting your journey intracompany transaction

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  • #987512
    Nino210
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    Hi all,

    Our company is going to have another retail store. I am going to register another business name under the same ABN, and keep the two store account in different file in my MYOB system. The issue now is about the intra-company transaction. If I want send Inventory A from Store A to Store B, can I just change the amount of inventory in these two stores? Or do I need to make it a transaction between the two stores? If so, Store A will be the supplier of Store B, I am wondering can I invoice to Store B under the same ABN ? Thank you very much.

    #1163116
    nighttax
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    Hello Nino210

    As the 1 company owns all there is not too much to worry about. For the sake of tracking all things correctly Company A can invoice Company B but make sure it is a GST FREE invoice as in the eyes of the law there is no change of owner. This way you can show potential buyers of either business a realistic set of business income and expenses for each.

    regards
    Evan

    #1163117
    StevenMelbourne
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    Evan’s advice is probably the best way forward, especially if you want to create more stores and/or think about franchising later

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