Eliminations

• Upon posting into the General Ledger (GL), individual posting lines are flagged as an elimination.

• This Elimination flag can then be used when viewing financial statements e.g. Trial Balance, Balance Sheet or Profit & Loss.

  

• The setting of a posting line as an elimination is determined by the Elimination rule setup of the Document type or Chart of Account code.

• If you change the Elimination rule setup, you may wish to reset the Elimination flag on the existing GL posting lines. If you wish to do this, there is an Elimination automation available.

Tip

Don't forget to set the default account(s) for Interco movements in Account defaults.

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Elimination rule setup

Document types

• If the Document type has Elimination ticked then ALL lines for documents of that type will be flagged as Elimination.

Chart of Accounts

• As documents are posted to the GL, the Elimination will be automatically set for Accounts where the Interco and Elimination checkboxes are ticked.

Tip

The Interco attribute must be included on the related Chart of Account rule.

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Elimination automation

• If you either changes the rules or wish to set the Elimination flag on previously posted documents, you can setup and manually run an automation to reset the flag.

  

Tip

The automation is a process which can be manually run as many times as you wish but once the Elimination rules are setup, the Elimination flag will be automatically set as documents are posted to the GL. Tick the Reset All checkbox to update the flag for historical GL posting lines.

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Account defaults

• Set the default account(s) for Interco movements in Account defaults.

  

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Updated February 2024