You can use the Consolidation, Onlineform to process elimination transactions for consolidation companies, if you prefer to complete the consolidations at one time and validate the information before processing eliminations.

If there are previous consolidation transactions for the company, date range, and account range, the transactions will be removed and consolidated again.

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

1. In the consolidation company, create a new journal name with an Eliminationjournal type in the Journal namesform ( General ledger> Setup> Journals> Journal names ).

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 transactions from the subsidiary company into the consolidation company using the Consolidation, Onlineform ( General ledger> Periodic> Consolidate> Consolidation, Online).

   Your selections in this form determine how the eliminations journal is posted:

   • If you select Post only, the eliminations journal will be posted when you click OKin the Consolidation, Onlineform.

   • If you select Proposal only, you must post the eliminations journals in the Post journalsform ( General ledger> Periodic> Post journals).

   Note
   If the destination company for the elimination rule is not the same company as the consolidation company, you must post the elimination journal in the elimination company, and then complete another consolidation for the elimination company.

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