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The transactions will be posted in the consolidation company.Alternatively, you can have a separate company that you manually create the eliminations in, and then use that company in Financial reporting or in the consolidation process.In the context of financial accounting, consolidation is the aggregation of the financial statements of two or more companies under the same ownership into a consolidated financial statement.To really grasp consolidation, you need to understand that in the outside world, no one cares about money that’s traded back and forth between different companies under the same ownership.However, because the Consolidate online option has only one reporting currency, a consolidated company is required for each reporting currency if you use that option.The Financial reporting option is the recommended method.

In this post, we’ll cover the basics of consolidation, some of the challenges that emerge and possible solutions.

This article provides general information about the consolidation and elimination process.

It includes answers to some frequently asked questions.

By using the Export company balances option to export from one instance and then using the Consolidate with import option on the other instance, you can consolidate the data.

For more information, see Currency revalution in a consolidation company.

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