General Ledger - EBS (MOSC)

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Significance of Elimination Company

edited May 8, 2016 5:00AM in General Ledger - EBS (MOSC) 1 commentAnswered

Hi there

Can someone please explain the significance of elimination company used during Elimination JE Creation

We have a scenario  where with below company transactions

Parent : 01

Subsidiary : 02

Company 01 Pays for Company 02 , So accounting entries for Intercompany booked are

01 IC Receivable 02

02 IC Payable 01

In this case , suppose if we use an Elimination Company E1 to eliminate the above transaction once it is transfered to Parent Ledger Company

How will the above 2 entries balance ?

Thanks

RK

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