Intercompany Transaction Automation (Auto Elimination)
What it does
This NetSuite customization automates intercompany transactions and eliminations across subsidiaries, ensuring accurate consolidated financial reporting. It removes the need for manual reconciliation of intercompany balances and eliminates discrepancies between entities.
By automating intercompany billing, settlements, and eliminations, organizations can streamline close processes and maintain clean consolidated financial statements.
How it's built
The solution uses NetSuite OneWorld intercompany functionality combined with automation logic to generate and eliminate transactions automatically.
Custom workflows handle intercompany sales, purchases, and journal entries, while elimination rules ensure proper removal during consolidation.
Key components
- NetSuite OneWorld intercompany setup
- Automated intercompany journal creation
- Elimination rules and consolidation logic
- Saved searches for reconciliation and validation
Before -> After
Before
Before automation, intercompany transactions are manually recorded and reconciled, often leading to mismatches and delays during consolidation.
After
After automation, transactions are automatically generated and eliminated in real time, ensuring accurate consolidated reporting and a faster month-end close.
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