General Ledger - EBS (MOSC)

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Elimination and consolidation in General Ledger

edited Feb 19, 2016 3:38AM in General Ledger - EBS (MOSC) Question

Hi,

I am performing Consolidation for the business. We need to present consolidated financial statements every month, quarter, semi-annual and yearly.

I have below queries regarding Elimination and Consolidation.

1. Elimination entries that are based off balance sheet accounts – do elimination journals feed off account balance month after month?  If an elimination rule is maintained for an inventory account and the balance remains in that account, will the elimination entry automatically be generated every month?
2. Is there a way to prevent consolidation transfer process from transferring balances twice within the same month?
3. How are eliminations run in order to present multiple views of the financial statement – yearly versus quarter?

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