When companies are consolidated, balances and transactions between them are removed so the group reports only what it owes, owns and earns with outside parties. Those removals are elimination entries.
Elimination entries exist only at the group level. They are never written back to any company's QuickBooks Online file, because they have no meaning in a single company's books: each company's receivable or sale to its sister company is real in its own ledger. The same applies to the translation adjustment and other consolidation-only entries.
Eliminations run on reconciled intercompany pairs, and on intercompany sales and purchases found in trade receivables and payables and confirmed by you. A pair whose two sides do not agree is shown as a difference to resolve, in the company that is wrong, before it is eliminated. See Intercompany reconciliation.
Elimination entries are journals in the same append-only record as every other entry, with the period, the group, who created them and when. See Audit trail.