Latest blogs
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Two Methods for Elimination Entries: Which Approach is Best for Your Business?
When posting manual elimination entries in a consolidation, there are two ways to record them: at the group level — a single journal that lives in the consolidation without referencing which entities it relates to — or at the entity-pair level, where each elimination specifies the “from” entity generating the income and the “to” entity…
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Common Elimination Entries for Balance Sheet (BS): A Practical Guide
When preparing consolidated financial statements, one of the most critical — and most error-prone — parts of the process is eliminating intercompany balances from the group balance sheet. Without these eliminations, the consolidated balance sheet will overstate assets, liabilities, and equity by including amounts that exist only because two entities within the same group have…
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Introducing Auto-Elimination in BrizoConsol: Streamline Your Consolidation Process
Financial consolidation can be a complex and time-consuming process, especially when dealing with intercompany transactions and eliminations. To simplify this process, BrizoConsol is excited to introduce its new Auto-Elimination feature. This innovative tool allows users to automate the elimination of intercompany transactions, saving time, reducing errors, and ensuring compliance with accounting standards. In this blog, we’ll explore…
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Common Elimination Entries for Profit and Loss (P&L): A Comprehensive Guide
When preparing consolidated financial statements, intercompany eliminations remove the effect of transactions between entities within the same group. The principle is straightforward: from the group’s perspective, a sale from one subsidiary to another is an internal transfer — it generates no revenue from external parties and incurs no cost from external parties. Both sides must…
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Introducing Entity-Level Elimination Method Selection in BrizoConsol
BrizoConsol is committed to offering tools that adapt to your business’s unique needs. Our latest feature allows users to select their preferred elimination method for each organisation. Whether you prefer to input eliminations at the group level or at the subsidiary level, this new flexibility ensures your financial consolidation process aligns seamlessly with your workflows.…