Consolidation configuration using single chart of accounts and single calendar

Summary

Looking for configuration steps and processes for GL consolidation in GL Cloud

Content

Hi

 

Client has 2 entities, which both use the same ledger. So Chart of Accounts, Calendar and Currency are the same. I need to consolidate both entities into the parent organisation. What are the relevant configuration steps and processes to run to consolidate both entities into the parent organisation? I will need to create elimination journals (using allocation rules?) for intercompany transactions.

I found some material, but no detailed steps supporting consolidation. I assume consolidation will be using the reporting method.

Thanks in advance for sharing any information regarding consolidation.