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Everyone,
The company I just joined, has big elimination challenge. The intercompany for AR and AP are never eliminated from the group level (surprised it was never picked up by auditors) because they are mix between external and internal.
The accrual for incomes and expenses are also mixed up between external and internal. There are over 89 entities within the group and there is no way I can go through the Balance sheet one by one to identify/filter out the interco related. Majority of the accountants are also new due to high turn over.
I almost give up with the mess, I wonder if you were in my position, what would you do?

The easiest way is to implement an efficient intercompany declaration procedure at entity level. This means that local accountant of each individual company should be in charge of their scope and reconcile with their counterparts.

Than, you, at the consolidation level, should pull out an interco report and reconcile.

Is it your job to clean this interco mess JBHF?

Hi Merek, I am a new finance manager reporting to the CFO (who doesn't even do journal entry). So yes, I assume this is part of my job.

Ouch. are they all in the same country or might there be an opportunity to 'release' some balances and implement better processes/checks from now on?