Tag: Intercompany Elimination

Why 2 Intercompany elimination journal entries created for a single bill or Invoice

Scenario: The User gets 2 elimination journal entries for the same invoice or bill while running the intercompany elimination. Answer: In NetSuite, intercompany eliminations are typically performed in two stages: Intercompany matching, which matches intercompany transactions between subsidiaries. Intercompany elimination, which eliminates the matched intercompany transactions to avoid double-counting in consolidated financial statements. During the… Continue reading Why 2 Intercompany elimination journal entries created for a single bill or Invoice