How intercompany eliminations work in Intuit Enterprise Suite

In Intuit Enterprise Suite, you can select intercompany accounts for each of your companies to eliminate automatically.  This will remove the full transaction or balance from your consolidated reports. 

1. Go to Advanced accounting and select Multi-entity.
2. Select Select intercompany accounts.
3. For each company, choose the accounts that are used solely for intercompany transactions or balances. If you're unsure which accounts should be eliminated, consult with your accountant for guidance.
4. Once you've selected the appropriate accounts, select Save. QuickBooks will automatically eliminate the full balances of these accounts from your consolidated reports.

In some cases, you may need to manually remove specific amounts whenever you have an account that isn’t used exclusively for intercompany transactions. You can do this using Spreadsheet Sync in Intuit Enterprise Suite. 

Create multi-entity reports in Spreadsheet Sync

1. If you haven’t already, set up Spreadsheet Sync. 
2. In the Spreadsheet Sync panel, select Build multi-company reports.
3. Select the group you want to run the reports for.
4. Select the report you want to view:
   • Balance Sheet - Multiple Period
   • Profit and Loss - Multiple Period
   • Trial Balances
5. Select Filters to download the data you want from the source.
   Note: The filters may vary depending on the type of report.
6. Select  Run Report to get the data onto your spreadsheet.
7. Use the spreadsheet's built-in features to create custom charts and graphs with your QuickBooks data.

Enter manual elimination adjustments

1. Adjust the amounts in both the Eliminations and the Consolidated statement columns. 
2. Save your spreadsheet.  These adjustments won’t be posted to QuickBooks.