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Setting up Row Sets for Intercompany Elimination

  • 16 May 2023
  • 2 replies
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J
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I have set up row sets that work on standalone Income Statement, but not sure how to design the row set so it eliminates on consolidated statement. Maybe I need different GL accounts - see below.

 

Entity A - Correct

  • Sale to end customer - $25K
  • COGS for order - $21K

 

Entity B - Correct

  • Interco sale of $21K

Consolidated - No Elimination

  • The intercompany Sales line should be zero and hidden.
  • The COGS material line should be $13,827 ($34,889 - 21,062)

 

The row sets are set up as follows:

  • Intercompany sales being driven by GL account 40005
  • COGS Material being driven by COGS account class

 

How do I go about eliminating the interco entries on consolidation. Open to changing row set/GL account/Account classes as necesary but wondering what the best practice is for structuring this.

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Best answer by jwarren 16 May 2023, 22:01

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J
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Resolved by attributing Interco Sales & COGS Material lines to the respective company in the Data Source.

Chris Hackett
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Thank you for sharing you solution with the community @jwarren !

Chris ~ Let us know how we're doing: https://forms.office.com/r/xmJUdZ1QE5 - A member helped you, please *Like* their post. A member provided an answer to your question, please mark it as *Best Answer*.

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