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Dynamics 365 Community / Forums / Microsoft Dynamics GP (Archived) / Elimination Company - ...
Microsoft Dynamics GP (Archived)
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Elimination Company - Consolidated Financials

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Posted on by K Day 7,365

Has anyone had any experience with creating a separate GP database as an Elimination Company for consolidated Financial Statements?  I was discussing this with a client and we have tried to factor eliminations out using FRx and it gets so confusing when you are subtracting out Intercompany Sales/Revenue and Intercompany A/R and A/P.  Since we are dealing with multicurrency, the intercompanies are rarely  in balance and then the balance sheet doesn't balance, we need to spend a while going through the excel exports and figuring it out.

I was told that one technique would be to create an completely separate company in GP called an elimination company where they post elimination entries.  In this case, I would just need a shell of a company with just a few GL accounts, correct?  Can anyone share their experience with this?

Thanks,

Kevin

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  • Frank Hamelly | MVP, MCP, CSA Profile Picture
    Frank Hamelly | MVP... 46,625 Super User 2025 Season 2 on at

    Hi Kevin,

    I have clients that use eliminations companies for recording interco clearing transactions and others that just use different company codes within the same database.  You are right though, you just need a shell company to record the Due To/Due From amounts and then incorporate those companies in your consolidating FRx reports.

    Interestingly enough, one of my clients that uses this method has me now eliminating the eliminations companies and combining their 8 separate entities into one database because they believe inquiry and reporting will be simplified, which is probably correct. 

  • Frank Pidoto Profile Picture
    Frank Pidoto 20 on at
    Hello Frank H:Frank P. here. I am interested in your comment about combining the 8 separate entities into one database for inquiry and reporting purposes. Can you please elaborate on this combining process, assuming that you do not mean FRx?Thanks.Frank P.

     

  • Frank Hamelly | MVP, MCP, CSA Profile Picture
    Frank Hamelly | MVP... 46,625 Super User 2025 Season 2 on at

    Frankly speaking Frank :) sorry, couldn't pass that up.

    I'm creating a new company and importing just the monthly account balances from the 8 companies into one.  To do this, I have to modify the current account structure to add a company code segment.  This is going to be a totally separate instance of SQL and GP.  The client will still have full access to the existing instance for historical purposes.

    Hope this helps.

  • Sunbeam De Jesus Profile Picture
    Sunbeam De Jesus on at

    Hi,

    I agree creating a virtual consolidation company is the best option.

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