Intercompany Accounting Process Flow is the series of steps that are needed to accurately and efficiently record transactions between related entities. This process starts with the identification of all related entities, followed by the clarification of ownership or control and majority ownership of each entity. Once this information is in place, it is necessary to identify and track any intercompany transactions that have taken place between the various entities, whether it’s in the form of services, goods, or financial accounts. Finally, the proper reconciliation and reporting of these intercompany transactions must be conducted, to ensure accuracy and compliance with accounting standards and regulations. Through this comprehensive cycle of steps, businesses can ensure that their intercompany accounts are accurate and up-to-date.