Setting Up Automated Eliminations

You can use the Automated Eliminations feature to automatically eliminate intercompany transactions for consolidated financial statements.

Configuring Access

You should ensure that users have been granted the appropriate access to run automated eliminations and to edit and run the Standard Reports for Automated Eliminations. To learn more see the following topics:

Enabling Automated Eliminations using Feature Console

You can use the Feature Console to add the necessary fields to the page layouts on your org. If you are using custom layouts, you can complete these steps manually.

For more details, see Feature Console.

To enable the Automated Eliminations feature:

  1. Click the Feature Console tab.
  2. Click AccountingAutomated Eliminations to view the feature steps.
  3. Click Perform to add Elimination to the Transaction Type picklist.
  4. Click Perform to add the Original Transaction, Reverse Transaction, and Reverse Reason fields to the Transaction Layout.
  5. Click Perform to add the Elimination Transaction field to the Transaction Line Item Layout.
  6. Click Perform to add the Intercompany Elimination field to the General Ledger Account Layout.
  7. Click Perform to add the Add the Elimination Company field to the Company Layouts.
  8. Click Perform to add the Reverse Transaction Logs related list to the Transaction Layout.
  9. When the steps are complete, use the Status slider in the Feature section to enable the feature.