Can I only eliminate transactions from subsidiaries on the same hierarchical level?

AI generated answer (using internal Slack threads):

Based on the conversations, it appears that you can eliminate transactions from subsidiaries on the same hierarchical level. However, the process is not as simple as it might seem. In NetSuite OneWorld, each “horizontal” level, with the exception of the Parent subsidiary, needs to have just one elimination subsidiary. When an intercompany transaction occurs, it first uses the elimination subsidiary at the lowest level, then moves up the hierarchy. This process can result in multiple elimination journals for a single transaction. For example, if an intercompany transaction is between sub1 and sub4, it will first use the elimination subsidiary at the lowest level (ZZZ Elim), then the next level (ZZ Elim), and finally the top level (Z Elim). This process will result in three elimination journals. If you are trying to budget for eliminations, it might be more accurate to budget for each subsidiary individually and then eliminate the intercompany totals at each elimination level. In a scenario where a subsidiary is sold but still managed within the same NetSuite account, it's suggested to create an adjustment only book for the parent. Then, you can post the zeroing journal/trial balance into that adjustment only book which will represent your consolidated amounts. This will work only if your parent subsidiary is a consolidating subsidiary (i.e., the subsidiary itself has no activity). Alternatively, you may want to create another subsidiary and post your journal there. ****** Disclaimer: This response was generated by an artificial intelligence assistant based on previous conversations from multiple Slack channels, and may contain inaccuracies or mistakes. ******