Modify entries from previous periods.

[at1108]

Hi there,

A question for anyone using Financials... Do you perform modifications to entries that have been posted to a previous period or year? If yes, do you re-open that period in order to make the changes. Perhaps this question is too vague. An end-user has asked me for the ability to modify vouchers, invoices, journal entries and etc that have already been posted. I'm wondering if / the best way to do this.

What has been your experience with this?

Thanks!
Annemarie

 

[Carl_Fisher]

You do not need to reopen the period, there is an Option in General
Accounting Constants - Allow PBCO Posting. You need to log in and out after
changing this to use it.

If you want to post into a Prior Year use ## Journal Type, this will allow
for adjustments in prior years.

Your user really should not be messing with Posted Journals of any type,
just let him add Adjustment Journals.

Warning once PBCO Posting is set anyone can create Journals for Prior
Periods, often in error, to prevent this the only solution is to only allow
this user access at the time.

Basically Posting Journals to Prior Periods is not to be recommended, and
messing with Posted Journals in Prior Periods is a definite No.

Is this user an Accountant? If not do not let him anywhere near prior
periods.


OW733.3 Xe SP 14.2
Enterprise Server - Intel NT + Oracle 8.0.6
Client - Citrix TSE + 4 NT PC's for development

 

[david_mallory]

Annemarie,

It is possible to allow changing or adding transactions to a prior period,
but your accounting people will probably have a strong opinion about that,
quite possibly nyet. They close a period and count on having fixed numbers
for revenue, expense, etc so the periods are additive. If expenses were $X
for period A and a month later expenses are $Y for that old period, that
really messes things up for Accounting. I would ask the accounting manager.
Make sure he/she is sitting down.

Changing transactions within the same month is usually OK. Often necessary.

Dave Mallory Denver Wate

 

[sperkins]

As an ex accountant this user request horrifies me. I would recommend
posting adjusting entries into the current period, never open closed periods
and certainly never amend posted entries. A proper audit trail must be
maintained, along with security. I would also recommend referring this user
to their superior.

Good luck!

Sid Perkins
[email protected]

Tel: 01304 825003
Mobile: 07713158807

----- Original Message -----
From: "at1108" <[email protected]>
To: <[email protected]>
Sent: 29 May 2002 15:45
Subject: Modify entries from previous periods.


modifications to entries that have been posted to a previous period or year?
If yes, do you re-open that period in order to make the changes. Perhaps
this question is too vague. An end-user has asked me for the ability to
modify vouchers, invoices, journal entries and etc that have already been
posted. I'm wondering if / the best way to do this.What has been your
experience with this?Thanks!Annemarie

Sef van den Nieuwelaar
Australia
B732 on NT, XE on NT/Oracle, B732/A73 on AS400, B733 on NT