What Is Internal Income?

Internal settlement income, the company's project management and management fees, overseas personnel fees, and materials storage and transportation that are due to the company's foreign companies and domestic color separation units in accordance with the standards of the double agreement Fee income. In order to calculate the above-mentioned income, the subject of "operating income-internal settlement income" should be set up. The undergraduate course is a special course for domestic companies. The borrower will register the material storage freight income, the overseas personnel fee income, and the operating management fee income. The lender registration will be calculated at the settlement price. The income from material storage freight and overseas personnel fees that should be collected from foreign companies, as well as the operating management fee income collected according to the prescribed standards or submitted by relevant units. When income occurs, debit the "Internal Transactions" account and credit the "Operating Income-Internal Settlement Income" account. At the end of the year, the balance of the undergraduate subjects was transferred to the "profit of the year" subject. After the balance was carried over, the undergraduate subjects had no balance. A detailed account should be set up for the specific categories of income for detailed accounting. ^[1]