USA Intercompany eliminations


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I need help eliminating Over/Under billings. My company does not accrue billings.

Here is the JE my company has created to eliminate, but it is affecting profit.

DR. cost in excess of billings xxx
DR. revenue xxx
CR. Billings in excess of costs xxx
 
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Fidget

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Not sure what your journal is doing, but eliminations are likely to affect profit/loss on consolidation because eliminations are basically removing profits/losses arising due to transactions between companies within a group.
 

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