What is consolidation entry in SAP FIN-SEM-BCS - Business Consolidation?

SAP Term: consolidation entry

• Component: FIN-SEM-BCS

• Component Name: Business Consolidation

• Description: Journal entries that transfer the overall standardized financial data to the consolidated financial statements. Consolidation entries are posted for: the elimination of interunit payables or receivables the elimination of interunit revenue or expense the elimination of investment income reclassifications allocations

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• Key Concepts: 
  A consolidation entry is a type of journal entry used in SAP Business Consolidation (FIN-SEM-BCS) to combine the financial data of multiple companies into one consolidated financial statement. This type of entry is used to eliminate intercompany transactions and to adjust for differences in accounting methods between companies. 
  
  How to use it: 
  Consolidation entries are created in the consolidation system and are used to adjust the financial data of each company before it is combined into a single consolidated financial statement. The entries are created by the consolidation system administrator and can be used to adjust for differences in accounting methods, eliminate intercompany transactions, and adjust for currency differences. 
  
  Tips & Tricks: 
  When creating consolidation entries, it is important to ensure that all entries are properly documented and that all adjustments are made correctly. It is also important to ensure that all entries are properly posted in the consolidation system. 
  
  Related Information: 
  For more information on SAP Business Consolidation (FIN-SEM-BCS) and how to create consolidation entries, please refer to the SAP Help Portal or contact your local SAP consultant.