NSC | What Happens When an Account's Eliminate Intercompany Transactions Checkbox is Marked

In OneWorld accounts, users may mark the Eliminate Intercompany Transactions checkbox on accounts record when they are used for intercompany transactions. When this box is checked, NetSuite can include qualifying balances in the intercompany elimination process during period close.

Scenario

A user creates an item and assigns an expense account that has the Eliminate Intercompany Transactions checkbox marked.

Later, the item is used on a vendor bill or another intercompany-related transaction. After period end, the accounting team runs the intercompany elimination process.

The user then notices one of the following:

• The account balance is reduced or eliminated in the consolidated report.