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Offset elimination of intercompany transactions among group companies

in Ask A Guru 3 comments

Offset elimination of intercompany transactions among group companies

We wish to offset transactions between group companies in the consolidated financial statements to reflect the accurate financial position of the entire group at the time of consolidation.

For example, if transactions between group companies are reflected in the actual financial statements, correct financial statements cannot be output.

How can NetSuite handle the offsetting eliminations so that inter-group company transactions do not appear on the financial statements?

Please provide specifics on how to do this

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