# Elimination

> Elimination — A consolidation-only entry removing intercompany balances, transactions and unrealized profit, so the group does not report trading with itself.

Source: https://lopifi.com/glossary/elimination
Part of: Lopifi — US GAAP books on autopilot, reviewed by a CPA (https://lopifi.com)

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**What is elimination?** In accounting, elimination means a consolidation-only entry removing intercompany balances, transactions and unrealized profit, so the group does not report trading with itself.

## Words this system refuses for it

- adjustment

- **Category:** Statements
- **Specified in:** [Lexicon](https://lopifi.com/md/docs/domain/11-lexicon)
- **Rendered by:** [elimination-entry](https://lopifi.com/md/components/elimination-entry)
- **Related:** intercompany