Consolidation workpapers and elimination entries

Review consolidation workpapers, edit elimination entries with source/target side inference, and rely on automatic rebuilds when member-company data syncs.

Use this page if you operate a multi-entity consolidation in Levelup and need to inspect the workpaper math, configure intercompany elimination rules, or understand how consolidated statements stay in sync with source-company data.

Overview

Before you start, you should already have a consolidation group with member companies, ownership percentages, and consolidation methods configured. If you have not built the group yet, set it up first under Org > Consolidations > New.

You can do the following from the consolidation pages:

View per-period workpaper tables that show before, eliminations, after, contribution, and residual columns.
View configured elimination rules and the source rows they match against.
Add, edit, and remove elimination entries with one or two configured sides.
Review automatic rebuilds that run when a member company resyncs.

View workpapers

The workpaper view shows the consolidation math for each line of the income statement and balance sheet across the periods you select.

Go to Org > Consolidations.
Select the consolidation group.
Open Income Statement or Balance Sheet.
Set the presentation selector to Workpaper.

The workpaper table has five columns per period:

Before — The aggregated amount from member companies before any elimination entries apply.
Eliminations — The signed adjustment from elimination rules. Click the value to open a side panel that lists each contributing rule entry.
After — Before plus eliminations.
Contribution — The portion of the After value attributed to the selected entity scope.
Residual — The unexplained difference. Non-zero residuals are shown in amber and indicate a reconciliation issue.

You can switch the entity scope between Group total and any individual member company. You can also change the granularity between Monthly, Quarterly, Yearly, and Combined.

Validation banners appear above the table when checks fail. The checks include:

Before + Eliminations = After per entity schedule.
Group reconciliation schedule balance.
Final balance sheet equation.
Non-zero elimination differences.

View eliminations

The eliminations page lists every rule configured for the group.

Go to Org > Consolidations.
Select the consolidation group.
Open Eliminations.

Each rule shows the elimination name, type, amount, and date window. Click a rule to expand it and load the rows that matched against your member-company data. Use Expand all or Collapse all to toggle every rule at once.

When a rule has both a source side and a target side, the matched rows render side-by-side with one column per period. When a rule has only one side configured, the matched rows render as a single table.

Add an elimination entry

Go to Org > Consolidations > [group] > Eliminations.
Click Edit (or Create if no rules exist yet).
Click Add Elimination.
Enter an Elimination Name. The name is required.
Optionally enter an Elimination Description.
Select a Type:
- All — Applies to every matching row across all periods. Disables amount, start date, and end date.
- Recurring — Applies a fixed amount each period within a date window. Requires amount, start date, and end date.
- One-Time — Applies a fixed amount in a single period. Requires amount and a single start date.
Configure the Company side, the Other Company side, or both:
- Select a company.
- Select an account from that company's chart of accounts.
For Recurring or One-Time rules, enter the Amount and the Start Date (and End Date for Recurring).
Click Save.

Saving replaces the entire elimination schedule for the group and triggers a full consolidation rebuild.

You must configure at least one side. You may configure two sides only when their accounts have opposite normal balances (one debit, one credit). The form blocks saving if both sides have the same normal balance.

Source and target sides

Every elimination rule has up to two sides:

Source side — Labeled Company in the form. Stored as sourceCompanyId and sourceAccountId.
Target side — Labeled Other Company in the form. Stored as targetCompanyId and targetAccountId.

You can configure one side or both:

Two-sided rules create offsetting journal entries on both accounts. The entry side (debit or credit) on each account is inferred from that account's normal balance and from the sign of the amount, so the rule reverses the intercompany activity correctly.
Single-sided rules apply only to the configured side. Use a single-sided rule when you want to remove an amount from one account without booking an offset to another.

When the same company is selected on both sides (for example, both pointing at one entity), the form labels the accounts as Side 1 and Side 2 to make the two account selections distinct.

Once the rule is saved, each matched row appears in the eliminations view under the configured side. The workpaper rule-detail panel labels each entry with both configuredSide (source or target) and entrySide (debit or credit).

Equity-method behavior

Equity-method members affect the math differently from full-consolidation members:

The member's revenue and expense lines do not flow into the consolidated income statement line by line.
Instead, the parent's share of the member's net income posts as a single equity-method earnings line, scaled by the ownership percentage you set on the member.
The member's balance-sheet accounts do not combine line by line either. Instead, the parent's investment account is adjusted by the parent's share of the member's earnings and distributions.

This means elimination rules that target an equity-method member's individual revenue, expense, asset, or liability accounts do not produce the same effect as they would for a full-consolidation member. To remove intercompany activity involving an equity-method member, target the parent's investment or equity-method earnings account on the appropriate side.

You set a member's consolidation method and ownership percentage from Org > Consolidations > [group] > Edit Consolidation. Ownership of less than 20% with no controlling interest defaults to the equity method.

Automatic rebuild on member resync

The consolidated statements rebuild automatically whenever a member company's underlying data syncs.

When any of these events occur for a company that belongs to a consolidation group, a consolidation rebuild is queued for every group that includes that company:

A QBO or Xero sync completes for the member.
A manual journal entry, transaction edit, or chart-of-accounts change posts for the member.
An explicit re-import or backfill runs for the member.

You do not need to trigger rebuilds yourself after a member-company sync. The rebuild runs in the background and updates the workpaper, eliminations, and final statement views once it finishes.

You can also force a rebuild by saving any change in Edit Eliminations, since saving the elimination schedule always triggers a full rebuild.

Permissions

Action	Required
View workpapers and eliminations	Member of the active organization with read access to the consolidation group
Edit eliminations	Write access to the consolidation group
Edit consolidation members and methods	Write access to the consolidation group

You must have an active organization context. Without one, all consolidation pages redirect you to sign in.

Limitations

Saving the eliminations form replaces the entire schedule for the group. Partial updates to a single rule are not supported through this view.
Two-sided rules require accounts with opposite normal balances. Same-normal-balance pairs are rejected at save time.
One-Time rules use the start date as both the start and end of the window. Recurring rules require an explicit end date that is on or after the start date.
The Eliminations field input does not support negative amounts as a way to flip direction. To reverse the direction, switch the source and target accounts instead.
Equity-method members do not consolidate line-by-line. Eliminations that target individual revenue, expense, asset, or liability accounts on an equity-method member will not behave the same as on a full-consolidation member.
Workpaper checks are diagnostic only. A residual or warning does not block saving — it indicates that you need to investigate the underlying data or rule configuration.
Automatic rebuilds run in the background after a member resync. There is no fixed completion time. Refresh the workpaper after the rebuild finishes to see updated values.

Consolidations

Creating Reports