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Intercompany Payables / Intercompany Receivables Balance is displaying in Balance Sheet

edited Jun 2, 2025 2:54PM in Ask A Guru 2 comments

Why is this intercompany balance appearing here?

As far as I know, intercompany account balances remain on the balance sheet until the "Eliminate Intercompany Transactions" function is executed at the end of the accounting period. This process removes intercompany balances from the consolidated financial statements.

I have already completed the Eliminate Intercompany Transactions for the period, yet the balances still appear in the balance sheet when I set the COLUMN to Subsidiary.

However, when I set the COLUMN to Total, the intercompany accounts do not appear on the balance sheet at all. What could be the reason for this discrepancy?

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