ANS-0865 · ONEWORLD & MULTI-SUBSIDIARY
How to Designate Accounts for Intercompany Elimination in NetSuite?
Understand which NetSuite account types are eligible for intercompany elimination and how to configure them.
Short answer
In NetSuite OneWorld, intercompany accounts are designated by checking the "Eliminate Intercompany Transactions" box on the account record. This flag is only available for specific account types: Accounts Receivable, Accounts Payable, Income/Other Income, and Expense/Other Expense/COGS. These accounts are exclusively used for amounts subject to intercompany eliminations.
Scenario
A NetSuite OneWorld user needs to identify which accounts in their Chart of Accounts can be configured for intercompany elimination. They are also encountering an issue where the "Eliminate intercompany transactions" task is not visible in the Period Close Checklist for the earliest open period, only appearing for a subsequent period.
Solution
To designate an account as an intercompany account in NetSuite OneWorld, the "Eliminate Intercompany Transactions" box must be checked on the account record. This option is specifically available for the following account types:
- Accounts Receivable
- Accounts Payable
- Income/Other Income
- Expense/Other Expense/COGS
These designated intercompany accounts are intended solely for recording amounts that are candidates for intercompany eliminations. The system's behavior regarding the visibility of the "Eliminate intercompany transactions" task on the Period Close Checklist, where it appears for a later open period (e.g., Feb 2014) but not the earliest, is standard and expected.
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