Hi Jeff,
Thanks for the update.
It does not really matter how many years it is being used, as ultimately we are going to post the balances to the new reconciliation accounts.
I would like to give some guiding points in this regard:
a) The number of inter company units are to be considered for the purpose of passing the JV. Though, this is not a constraint, the more number units makes the entry bigger.
b) Once the entry is posted then it needs to be reconciled with the inter company balances.
c) Once it is tallied, then all the old inter company vendor / customer accounts are to be blocked, so that nobody else would be able to post them.
d) Then inter company GL accounts can be as usual.
I have seen some clients using AP / AR and some use GL. However, the challenge here is changing from one to other, however, if we follow the above steps, it would resolve the issue.
Please let me know if you have any further questions.
Kind Regards,
Ravi