i created a new subsidiary under another one , and there's intercompany journal entries, after running intercompany elimination we noticed that an intercompany amount does not zero out the consolidation book , what should we check or change ?

AI generated answer (using internal Slack threads):

Based on the conversations, there are several things you should check or change if an intercompany amount does not zero out the consolidation book after running intercompany elimination: 1. Check the Elimination Settings: Ensure that the elimination settings for the journal line, account, and name match. You must check "Eliminate Intercompany Transactions" on the account record and enter a "To Subsidiary" on the name record, if used. 2. Use Advanced Intercompany Journal Entry: Instead of a standard journal entry, use an advanced intercompany journal entry. The accounts that you use must be set to be eliminated by checking the elimination box in list > accounting. Also, you must enter the "To Subsidiary" to indicate the subsidiary with which the transaction is taking place. 3. Check the "Represents Subsidiary" Field: If you're posting a journal to an account that has "Eliminate Intercompany Transactions" checked on account setup, and are specifying an intercompany customer or vendor on the transaction line, ensure that the "Represents Subsidiary" field on the customer is set up correctly. 4. Check the Journal Form: If you're using a form with the "Eliminate" field available on the transaction line, and the "To Subsidiary" field available on the header, ensure that these fields are filled out correctly. 5. Consider Creating an Adjustment Only Book: If your parent subsidiary is a consolidating subsidiary (i.e., the subsidiary itself has no activity), you might want to create an adjustment only book for your parent. Then you can post the zeroing journal/trial balance into that AO book which will represent your consolidated amounts. ****** Disclaimer: This response was generated by an artificial intelligence assistant based on previous conversations from multiple Slack channels, and may contain inaccuracies or mistakes. ******