Elimination accounts — Global Consolidation

The workflow for setting up a book using Global Consolidation is shown here:

Global Consolidation book setup
❶ Set up book info	❷ Select entities to consolidate	❸ Review and add journals	❹ Select accounts to override	❺ Add IET auto-elimination

It's common for multi-entity companies to have transactions among entities. During consolidation, you can configure your ownership structure or consolidation book to automatically generate offsetting entries against inter-entity activity in the elimination entity. In this way, inter-entity activity does not affect reporting in the consolidated book.

• By default, Sage Intacct automatically applies elimination to the inter-entity payable and receivable accounts that you specify in your inter-entity account mapping.
• You can add other GL accounts that you use for inter-entity transactions. Examples include other receivable and payable accounts, such as those for inter-entity loans, or inter-entity income and expense accounts.

Select the elimination accounts in your book setup

If Inter-entity auto-elimination is enabled on the Entities to consolidate tab, select Elimination accounts to review the accounts that are automatically eliminated. The Elimination accounts tab only appears when Inter-entity auto-elimination is enabled.

When setting up a consolidation book, you are required to select the elimination account.

Before you begin: If you do not have an elimination entity, create one as described in Elimination entities — Global Consolidation.

1. Create or edit a consolidation book.

2. On the Entities to consolidate tab of Book setup, select an elimination entity from the Elimination entity dropdown menu.

   • The Elimination Entity dropdown menu appears only when you are creating or editing a book.
   • If you're viewing the setup of an existing book, the elimination entity is displayed in the list of entities included in the book.
3. Select Inter-entity auto-elimination.

4. Select an Elimination adjustment account for the book.

   When consolidating a book, whether global or domestic, Intacct posts IET elimination adjustment entries to the elimination adjustment account.

   • Global Consolidation: Select an elimination adjustment account to automatically record CTA and elimination variances and bring to zero the account balances of automatically eliminated accounts.
   • Domestic Consolidation: Select an elimination adjustment account to automatically record elimination variances and bring to zero the account balances of automatically eliminated accounts.
5. Select the Elimination accounts tab.

   The elimination accounts selected during elimination entity setup are listed at the top of the page.

6. Optionally, you can select additional elimination accounts in the lower section of the page. Select Add next to a row under GL account to add other elimination accounts.

Next step: Proceed to Run a consolidation.