AUTOMATIC ELIMINATION:
- The Automated Intercompany Management feature manages intercompany transactions and generates elimination journal entries automatically
- Reducing:
- – Need to manually create, track, and eliminate intercompany transactions
- – Manual steps required to manage and report intercompany activity.
- NetSuite generates the elimination journal entries based on the intercompany transaction lines and intercompany journal lines marked to be eliminated.
- – As part of the period close, NetSuite evaluates the activity in intercompany accounts and creates the journal entries to eliminate artificial profit and loss amounts.
