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IC Elimination - Wrong Location Segment Shows

in Ask A Guru 4 comments

Hi Gurus!

I have a mystery related to my intercompany elimination at month end close. I closed the month and ran I/C eliminations as part of it.

1) The elimination entry was correct during the close.

It was a JE that pulled in 2 I/C JEs ($100 and $1000 JEs) and correct location segments (US). See A please. Note the location segment there.

A


2) Elimination location segment is incorrect. Original IC JEs used only US. Elimination uses India.

If a wrong segment is used, will the natural IC account sill have a balance for the original US segment? In other words, on a natural account level, it will net to zero on consolidated BS, but if we run that BS by segments, such as location, US location will have the original amount, and India location will have the opposite sign, and together they will net to zero, correct? But how can we avoid this and eliminate using the correct segment? See C please for original entry.

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