What is elimination set in SAP FI-LC - Consolidation?

SAP Term: elimination set

• Component: FI-LC

• Component Name: Consolidation

• Description: A set that contains the financial statement items that are to be eliminated against each other. &EXAMPLE& For the elimination of intercompany payables or receivables all the payables and receivables items are contained in one elimination set.

Smart SAP Assistant

• Key Concepts: 
  Elimination set is a feature of the FI-LC Consolidation component of SAP. It allows users to eliminate certain transactions from the consolidation process, such as intercompany transactions or transactions between related entities. This eliminates the need to manually adjust the consolidated financial statements. 
  
  How to use it: 
  To use the elimination set feature, users must first define the elimination set in the consolidation system. This includes specifying which transactions should be eliminated and how they should be treated. Once the elimination set is defined, it can be used in the consolidation process to automatically eliminate certain transactions from the consolidated financial statements. 
  
  Tips & Tricks: 
  When defining an elimination set, it is important to ensure that all relevant transactions are included in the set. This will ensure that all necessary adjustments are made during the consolidation process. Additionally, it is important to review the elimination set periodically to ensure that it is up-to-date and accurate. 
  
  Related Information: 
  For more information on using the elimination set feature in SAP FI-LC Consolidation, please refer to SAP Help documentation or contact your local SAP support team.