Elimination Subsidiaries for Consolidated Reporting


When managing and reporting on the activities of multiple consolidated entities, it may be necessary to eliminate revenue or expenses when those companies transact with each other. Intercompany loans, sales, and inventory transfers are all examples of transactions between entities that may require these eliminating entries.

NetSuite provides for the creation of “Elimination Subsidiaries” to which journal entries can be posted to balance consolidated books. After the transaction has posted to the two companies’ books, you would create an inter-company journal entry to record the elimination and balance the effect of the transaction.

To set up these elimination subsidiaries:

  1. Navigate to Setup > Company > Subsidiaries > New
  2. Provide a name for this elimination subsidiary, and specify to which parent it relates
  3. Check the “Elimination” checkbox. This will ensure only Journal Entries can post to this subsidiary (it cannot be accidentally selected on transactions)
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The new subsidiary shows up in the list of subsidiaries, and is designated as an Elimination Subsidiary.

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SuiteScript Inline Editing

Workflow Management Using List Views:

Inline Editing in a list view is very convenient for quickly updating records with out having to open each record individually. This is especially useful for managing company-specific workflow processes because you can easily run through a list and check boxes or change status fields for many records in a short amount of time. By using different filters in a list view, records can move from one list to the next as field values change.

Word of caution:

If you use SuiteScript on your record that is based on a user event such as save, the SuiteScript will not execute when changes are made from a list view. Event based SuiteScripts only execute when the record is opened and saved from within the form.

This is acceptable most of the time unless the fields you are changing in the list view correlate to the business rules or automation provided by the SuiteScript. In this situation you will need to prevent users from editing records from the list view. This can be done by changing a preference on the form. Find the preferred form for your record type, select Edit, and uncheck the field “Enable Field Editing on Lists”. Although you many have different forms for a given record type, the list view always looks at the preferred form to determine if inline editing is possible.

Use Case Scenario:

Foster Services has implemented a new workflow to help streamline their new hire process. They start by adding a “Hire Status” custom field to the employee record. When the status is changed to “Offer Accepted” NetSuite tasks are automatically created to setup their email account and order building access cards. Since the company depends on the creation of these tasks, they could not allow users to update the status field via inline editing so they unchecked the “Enable Field Editing on Lists” option on their preferred employee form.