You can use the form to process elimination transactions for elimination companies and consolidation companies.

You must create an elimination rule before you create elimination transactions. For more information, see Set up elimination rules for transactions.

For elimination companies

  1. In the elimination company, create a new journal name in the form ( > > > ).

  2. In the consolidation company, create an elimination rule with the elimination company as the destination company. Define lines for the accounts for which transactions must be eliminated.

  3. Consolidate all subsidiary transactions into the eliminations company using the form ( > > > ).

  4. Process the elimination rule in the elimination company using the form ( > > > > > ).

  5. Post the eliminations journals in the form ( > > ).

  6. If the elimination company is not the same company as your consolidation company, use the form in the consolidation company to move the transactions from the elimination company to the consolidation company.

  7. Print the consolidated financial statements. For more information, see Financial statements.

For consolidation companies

  1. In the elimination company, create a new journal name in the form ( > > > ).

  2. In the consolidation company, create an elimination rule with the consolidation company as the destination company. Define lines for the accounts for which transactions must be eliminated.

  3. Consolidate all subsidiary transactions into the consolidation company using the form ( > > > ).

  4. Process the elimination rule in the elimination company using the form ( > > > > > ).

  5. Post the eliminations journals in the form ( > > ).

  6. Print the consolidated financial statements. For more information, see Financial statements.

See Also