Summarized Intercompany Elimination Journal Entries

If you use the Journal Entry Summarization on Intercompany Elimination accounting preference, NetSuite groups similar elimination journal entries into a single, summarized journal entry line. If you do not use the accounting preference, each elimination journal entry appears on a single journal entry line. You can change the state of the preference, as required.

The way the accounting preference works depends on the type of account used in the elimination journal line:

For Accounts Payable, Accounts Receivable, Equity and Income Statement accounts, the accounting preference determines whether elimination journal entries for these accounts are grouped into a single line or are shown on their own lines. When the accounting preference is enabled, entries are grouped into a single journal entry if they meet the following conditions:

• Same elimination subsidiary

• Same elimination period

• Same accounting book

• Same Class, Department, Location, Custom Segment combinations

• Same general ledger account

Other balance sheet accounts, such as Other Asset and Other Current Liability accounts, are always summarized and appear as a single detail line, regardless of whether the Journal Entry Summarization on Intercompany Elimination preference is set or not. You can use the source transaction link to drill down on an elimination journal line to source transactions that are included in the summarized amount.

The Journal Entry Summarization on Intercompany Elimination preference determines the information available on the Lines subtab of the journal entry record.

• When the preference is set, the Source Transactions column shows the number of rows that are summarized in a single journal entry line. Click the Rows link, and on the details page, click a journal entry link in the Created From column to open the related source transaction. Additionally, on the details page, you can find the transaction amount and currency, base currency amount and currency, and information about the consolidated exchange rate.

• When the preference isn't set, the detailed information isn't available because journal entries aren't grouped.

General Notices