financial term

[ekben]

dear all,
i am confused of 2 fields in F0902 or in program P0902P1
AmtBeginningBalancePy
AmtPriorYrNetPosti

May i know why both fields carry same amount?

assuming current year is 2004
to my understanding, AmtPriorYrNetPosti is net dr/cr 2003

whereas AmtBeginningBalancePy is something like 2002 cf(closing) or 2003 bf(opening)

please help.
thanks
ekben

 

[adri_valentim]

Hi,

These fields are populated when you run the financial year end close UBE. That is how EnterpriseOne calculated the opening balance in an account.

Happy new Year.

 

[ekben]

Hi Adri,
you mean both also opening balance for any new fiscal year? its kind of misleading. why it designs this way? so i need to manually calculate the last year net posting (dr/cr or movement of last year only), last year brought forward amount (opening balance for last year).

thanks
rgds
ekben

 

[KSmithCPA]

While these fields can have the same amount in them, they won't always....

How many years has it been since the conversion?

Prioy Year Ending balance should be the cumulative balance forward for all years, where prior year net postings should be the net balance for the previous year...

Depending on how your conversion was done, these can be the same after one year....