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Hi Ludwig Reinhard
I want to have your expertise on a quite complex scenario for Consolidation and Elimination. P Co. is parent company to S Co. Cost of Goods P Co. incurred 100 goods @ 100/- = $ 10,000, P Co. sells goods to S Co. 50 goods @ 150/- = $ 7500 S Co. Sells 25 Goods @ 200/- = $ 5000/-. S Co. Sells these goods to 3rd party customer At Year end 25 goods remains in S Co.'s inventory @ 150/- Journal Entries: P Co. Purchases Dr. Inventory 10000 Cr. Accounts Payable 10000 Sales Dr. Accounts Receivable 7500 Cr. Sales 7500 Inventory Dr. COGS 5000 Cr. Inventory 5000 S Co. Purchases Dr. Inventory 7500 Cr. Accounts Payable 7500 Sales Dr. Accounts Receivable 5000 Cr. Sales 5000 Inventory Dr. COGS 3750 Cr. Inventory 3750 Elimination Entries Dr. Accounts Payable 7,500 Cr. Accounts Receivable 7500 Dr. Sales 7500 Cr. COGS 7500 Dr. Unrealized profit/COGS 1250 Cr. Inventory 1250 I have separate accounts for Inter company Sales, Inter company Purchases, Inter company AR, Inter company AP. Challenge is to make the adjustments in COGS and Inventory. How can I post these eliminations in MR while consolidation? Please suggest.
MR is a pure reporting tool where you cannot add or post transactions.
In your case the issue seems to be the intercompany profit that results from the items sold from P to S.
That is, in P, you sell items for $150 that have a cost price of $100. In other words, your stock goes down by $100 x quantity
In S, your stock value increases by $150 x quantity.
To get this resolved, you can have a look at the following blog posts from MS who published a series of 7 posts on consolidations. Here is one of them.
Would be great if you could review them and let us know if this helps you resolving your issue.
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