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New to NetSuite | Summarized Intercompany Elimination Journal Entries

in Advanced Accounting & OneWorld

In the previous articles, we discussed how elimination journal entries in NetSuite can be created manually (New to NetSuite | Manual Creation of Elimination Journal Entries) and automatically (New to NetSuite | Automating Intercompany Elimination in NetSuite) through Automated Intercompany Management. In this article, we will focus on summarizing Intercompany Elimination Journal Entries and how NetSuite organizes elimination entries during the consolidation process.

NetSuite provides the Journal Entry Summarization on Intercompany Elimination accounting preference, which groups similar elimination journal entries into a single summarized line. If the preference is disabled, each elimination journal entry appears on its own line. 

For Accounts Payable, Accounts Receivable, Equity

Niña Camille Paule | Advanced Accounting and Reporting

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