The Automatic Elimination of GRT Codes Named Intercompany feature within Reports helps streamline consolidation by automatically removing balances tagged with GRT codes classified as Intercompany.
This ensures that intercompany transactions do not overstate group revenue, expenses, assets, or liabilities in consolidated reports.
Best used when:
Multiple entities transact with each other internally
GRT codes are assigned to intercompany balances
Consolidated reporting requires elimination of internal activity
Manual elimination journals need to be reduced
How It Works
When a report is generated:
The system scans balances mapped to GRT Codes
Any GRT Code with the name Intercompany is identified
Matching balances are automatically eliminated in the consolidated report
Net group results exclude internal transactions
Where to Access
Navigate to:
Reports > Consolidated Reports
or the relevant reporting module where eliminations are applied.
Setup Requirements
Setup Requirements
Before automatic elimination works, ensure:
1. GRT Code Exists
A GRT Code must be named:
Intercompany
2. Transactions Are Correctly Tagged
Relevant ledger accounts or balances must be mapped to the Intercompany GRT Code.
3. Entities Are Included in Consolidation
The entities involved must be part of the reporting group.
Example
Entity A
Intercompany receivable from Entity B: $10,000
Mapped to GRT Code: Intercompany
Entity B
Intercompany payable to Entity A: $10,000
Mapped to GRT Code: Intercompany
Consolidated Report Result
Both balances are automatically eliminated.
Net impact: $0
Running the Report
Step 1
Open the Reports module.
Step 2
Select the desired consolidated report.
Step 3
Choose reporting period.
Step 4
Run report.
Step 5
Review output with automatic intercompany eliminations applied.
How to Validate?
How to Validate?
Check:
Intercompany balances no longer appear in group totals
Individual entity reports remain unchanged
Consolidated balances reconcile correctly
Troubleshooting
Troubleshooting
Intercompany Balance Still Appears
Possible causes:
GRT Code is not exactly named Intercompany
Account not mapped correctly
Entity excluded from report scope
Source data not refreshed
Balance Only Partially Eliminated
Possible causes:
Mismatch between counterpart balances
Currency translation differences
One side not coded as Intercompany
Note: Automatic elimination applies only to balances assigned to the Intercompany GRT Code. Non-tagged balances will remain in reports unless adjusted separately.
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