Difference Intercompany and Consolidation

I had posted a question about consolidation. While i was looking into the problem, i started reading about intercompany.

Anyone could explain the Difference between these two? Or at least tell me where to look :slight_smile:

In my case we have 3 companies, and transactions between each other shouldnt be places in general ledger in consolidated (parent) company. Should be stored elsewhere for viewing.

Thank you for your time :slight_smile:

Intercompany Transactions means that the entries will be made in multiple companies.

Consolidation means grouping specific entries (like every entry for a G/L Account on a specific date) and adding up the value. That one entry is placed in the consolidation company and takes the place of all of the other entries.

I think these are both in the Financials training material, but Iā€™m not for sure.

Thanks for info