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Intercompany Accounts are not zeroed out after completing the Eliminate Intercompany Transactions
Hi Guru, After comparing Prod and Sandbox, we noticed that re-running the elimination process in Sandbox didn’t eliminate some transactions. Before the subsidiary hierarchy was restructured, the elimination worked fine. Looks like this issue might be related to the recent change in the subsidiary hierarchy. Expected: After…
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Intercompany Elimination: Bill Payments and Customer Payments Not Eliminating
Dear Gurus, I'm currently facing an issue with intercompany eliminations in NetSuite and would appreciate some guidance from experienced users. When I run the "Eliminate Intercompany Transactions" step during the period close, I notice that while intercompany invoices (Vendor Bills and Customer Invoices) are being…
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Inactive subsidiary shows balances in Consolidated balance sheet
Hi We have inactivated a subsidiary and all the balances have been cleared. When running a financial statement report at the subsidiary level, the balance is nil. But when running a report at consolidated level, it shows a balance and we need this to show as nil. Is this a way to achieve this / exclude the inactive…
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Cumulative Translation Adjustment Elimination G/L Account not Zero
Hi All How to study Cumulative Translation Adjustment Elimination G/L Account not Zero after May 2023? Is this normal system behaviour or mistake in accounting entries? I am totally lost in Consolidation and Elimination topics. Hope you can help me improve my knowledge to next higher level. Kedalene Chong
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FX Rates during Consolidation
I am Consolidating financial reports for two subs acquired at different rates. Holding company is reporting in CAD. The CAD to USD rates were different during the two acquisitions. During consolidation of holding co., only one FX rate is being used. How can I ensure that holding co investments in two subs acquired at…
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Amount left after US consolidation
hi all, Why is this happening and what do I need to do to clear this amount on the US consolidated income statement? Issue: I was asked to reclassify balances from June, Sep and Oct from one cost center to another, which was on my UK sub. I did that and it was just IN/OUT on the UK income statement. But when US…