In a multi-company environment where there are transactions among group companies, it becomes necessary to eliminate these transactions as consolidated financial statements must include only transactions that occur between the consolidated organization and other entities outside that organization. Unfortunately, the process is manual.
But there is good news! with proper configuration and following the steps in a sequence, and making use of certain reports, it is possible to make this task easier. As a CPA and a BC consultant, I look forward to share my learnings.