Unit Accounts Have a Balance Brought Forward

TechKnowledge Content

Issue

I just closed my year in the General Ledger and now my unit accounts have a balance brought forward. What can I do to zero this balance out without affecting my historical year?

Resolution

You need to make a backup of your Great Plains data.

1. Go to Setup | Financial | General Ledger and unmark Maintain Transaction and Account History. If you are using Multicurrency you will need to first go to Setup | Financial | Multicurrency and unmark Maintain History in the Multicurrency Setup window. (It is possible that your window will not display a checkbox. You will need to click in the Maintain History box to display the checkbox).

2. Post a standard entry (Transactions | Financial | General) to your unit account in your historical year. Reverse the distributions by crediting what was orginally debited and debiting what was originally credited. You will want to set the transaction date to the last day of you historical year. By not Maintaining History we will not affect the ending year's balance, but a reversing entry will post to the open year to change the beginning balance to zero.

3. Go back into Setup - Financial - General Ledger and mark to Maintain Account and Transaction History. If using Multicurrency go back into Setup | Financial | Multicurrency and mark to Maintain History.





This article was TechKnowledge Document ID: 22993

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