Eliminating Intercompany Payables and Receivables

After completing this lesson, you will be able to:

After completing this lesson, you will be able to:

  • Eliminate intercompany payables and receivables

Intercompany Payables and Receivables Elimination Result

When the 2042 elimination task is run, the AP and AR values are eliminated with offsets. In the following image, the total difference between Germany and the US is 7087. The 7087 is broken down into a currency difference of 1692 and a transaction difference of 5395.

Reason code can displayed in group reports if needed.

After running the elimination, the Elimination Status in the Manage Reconciliation Close app, is Completed.

As a result, the matching, reconciliation, and elimination is complete.

Eliminate Intercompany Receivables and Payables

Business Scenario

Now that you have configured the ICMR integrated elimination, you can eliminate your intercompany accounts receivables and payables. You are keen to see how the system separates transaction and currency related variances. In addition, you are looking forward to running the Manage Reconciliation Close app because it includes both reconciliation as well as the elimination status data.

What skills will you develop in this practice exercise?

  • Run the intercompany elimination task
  • Close the reconciliation and elimination process
  • Report on the eliminated data

Task 1: Run the Elimination Task

Task 2: Close the Reconciliation and Elimination Process

Task 3: Report on the Eliminated Data

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