Rectification of wrong posting type

Hi

There is one PL account say "Mic Expenses"  has got wrong posting type
"Balance sheet", when we closed the year 2005 ,System has brought forward
the balance of that account into next year 2006, which otherwise should have
been gone into the Retain Earning of 2006, is there any option to rectify
this error, other then passing rectifying JV in 2005(coz in that case if I
take last year TB then ending balance of this account would be Zero)  or
restoring the backup and doing closing procedure again.

Thanks in Advance




0
4/6/2006 7:46:33 AM
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Shabnam

There is a Article ID for this in partner source 
Article ID : 864913 
it is what you should look to solve your problem.



"Shabnam" wrote:

> Hi
> 
> There is one PL account say "Mic Expenses"  has got wrong posting type
> "Balance sheet", when we closed the year 2005 ,System has brought forward
> the balance of that account into next year 2006, which otherwise should have
> been gone into the Retain Earning of 2006, is there any option to rectify
> this error, other then passing rectifying JV in 2005(coz in that case if I
> take last year TB then ending balance of this account would be Zero)  or
> restoring the backup and doing closing procedure again.
> 
> Thanks in Advance
> 
> 
> 
> 
> 
0
Akram1 (98)
4/6/2006 8:12:02 AM
Hi Akram,

Thank you very much for your reply,
Unfortunately I don't have access to that source.

Thanks


"Akram" <Akram@discussions.microsoft.com> wrote in message 
news:520DCCC0-D88E-4272-A11F-F1D075451CD4@microsoft.com...
> Shabnam
>
> There is a Article ID for this in partner source
> Article ID : 864913
> it is what you should look to solve your problem.
>
>
>
> "Shabnam" wrote:
>
>> Hi
>>
>> There is one PL account say "Mic Expenses"  has got wrong posting type
>> "Balance sheet", when we closed the year 2005 ,System has brought forward
>> the balance of that account into next year 2006, which otherwise should 
>> have
>> been gone into the Retain Earning of 2006, is there any option to rectify
>> this error, other then passing rectifying JV in 2005(coz in that case if 
>> I
>> take last year TB then ending balance of this account would be Zero)  or
>> restoring the backup and doing closing procedure again.
>>
>> Thanks in Advance
>>
>>
>>
>>
>> 


0
4/6/2006 11:04:25 PM
Search CustomerSource - there's an KB on how to resolve this issue (you don't 
need to restore from the backup).

"Shabnam" wrote:

> Hi Akram,
> 
> Thank you very much for your reply,
> Unfortunately I don't have access to that source.
> 
> Thanks
> 
> 
> "Akram" <Akram@discussions.microsoft.com> wrote in message 
> news:520DCCC0-D88E-4272-A11F-F1D075451CD4@microsoft.com...
> > Shabnam
> >
> > There is a Article ID for this in partner source
> > Article ID : 864913
> > it is what you should look to solve your problem.
> >
> >
> >
> > "Shabnam" wrote:
> >
> >> Hi
> >>
> >> There is one PL account say "Mic Expenses"  has got wrong posting type
> >> "Balance sheet", when we closed the year 2005 ,System has brought forward
> >> the balance of that account into next year 2006, which otherwise should 
> >> have
> >> been gone into the Retain Earning of 2006, is there any option to rectify
> >> this error, other then passing rectifying JV in 2005(coz in that case if 
> >> I
> >> take last year TB then ending balance of this account would be Zero)  or
> >> restoring the backup and doing closing procedure again.
> >>
> >> Thanks in Advance
> >>
> >>
> >>
> >>
> >> 
> 
> 
> 
0
LK (220)
4/7/2006 10:14:02 PM
Hi Shabnam,

Here is the steps to solve your problem,

Note: Below steps are of (Profit and Loss Account Set Up as a Balance Sheet 
Account) these steps are not applicable for Vice Versa.


CASE I) Profit and Loss Account Set Up as a Balance Sheet Account 

If you have a Profit and Loss Account set up as a Balance Sheet Account, the 
Profit and Loss Account will have a Beginning Balance after the Year-End 
Close. 

To correct this situation use the following steps. 

1. Make a full backup. 

2. Be sure that the Account(s) is still set to the INCORRECT Posting Type. 

3. Go into the Multicurrency Setup window (Setup | Financial | 
Multicurrency) and unmark Maintain History for General Ledger Account: 

A. Click Setup, click Financial, and then click Multicurrency. 
(Version 8.0 - click Tools, click Setup, click Financial, and then click 
Multicurrency.)

B. Under Maintain History, unmark the General Ledger Account box. 

Note: If you are not registered for Multicurrency, rename the MC40000.* 
files (MC40000.IDX and MC40000.DAT if on ctree, MC40000.BTR if on 
Pervasive.SQL) located in the Company's Finance directory. ***For SQL 
customers, run this statement against the Company database: 

UPDATE MC40000 SET MNSUMHST=0 

4. Click Setup, click Financial, click General Ledger, (Version 8.0 click 
Tools, click Setup, click Financial, then click General Ledger) and then 
unmark Maintain History for Accounts and Transactions check boxes. 

5. In this same window, be sure Allow Posting to History is marked. Choose 
OK to save the changes. 

6. Click Setup, click Company, click Fiscal Periods and make sure the fiscal 
period is open. (Version 8.0 click Tools, click Setup, click Company, and 
then click Fiscal Periods.)

7. Click Transactions, click Financial, click General and enter the 
appropriate journal entry. Be sure the transaction date is in the closed year 
so that the entry goes into history. 

For example, if the Profit and Loss Account has a Debit Beginning Balance 
after the Year-End Close, you would make an entry similar to the one that 
follows. Retained Earnings Debit Profit and Loss Account Credit Enter one 
transaction for each Account with an incorrect Posting Type. 

8. Click Post to post the transaction(s). The posting procedure will only 
affect the current year because the maintaining history options have been 
turned off. It will post a Beginning Balance transaction into the new year 
and therefore the Accounts will now have the correct balances. 

9. Click Setup, click Financial, click General Ledger, (Version 8.0 click 
Tools, click Setup, click Financial, and click General Ledger) and remark 
Maintain History for Accounts and Transactions. 

10. In this same window, be sure that Allow Posting to History is set 
correctly. Choose OK to save the changes. 

11. If Multicurrency is a registered module, go to Multicurrency Setup and 
remark to Maintain History for General Ledger Account. 

A. Click Setup, click Financial, and the click Multicurrency. 
(Version 8.0 click Tools, click Setup, click Financial and then click 
Multicurrency)
B. Under Maintain History, mark the General Ledger Account box. 

If Multicurrency is not registered, rename the MC40000.* files (MC40000.IDX 
and MC40000.DAT if on ctree, MC40000.BTR if on Pervasive.SQL) back to the 
original name. ***For SQL customers, run this statement against the Company 
database: 

UPDATE MC40000 SET MNSUMHST=1 

12. Click Cards, click Financial, click Account and select the Account(s) 
with the incorrect Posting Type and change the Posting Type to the correct 
one. 


Hope this will solve your problem Shabnam,

Best of luck.


"lk" wrote:

> Search CustomerSource - there's an KB on how to resolve this issue (you don't 
> need to restore from the backup).
> 
> "Shabnam" wrote:
> 
> > Hi Akram,
> > 
> > Thank you very much for your reply,
> > Unfortunately I don't have access to that source.
> > 
> > Thanks
> > 
> > 
> > "Akram" <Akram@discussions.microsoft.com> wrote in message 
> > news:520DCCC0-D88E-4272-A11F-F1D075451CD4@microsoft.com...
> > > Shabnam
> > >
> > > There is a Article ID for this in partner source
> > > Article ID : 864913
> > > it is what you should look to solve your problem.
> > >
> > >
> > >
> > > "Shabnam" wrote:
> > >
> > >> Hi
> > >>
> > >> There is one PL account say "Mic Expenses"  has got wrong posting type
> > >> "Balance sheet", when we closed the year 2005 ,System has brought forward
> > >> the balance of that account into next year 2006, which otherwise should 
> > >> have
> > >> been gone into the Retain Earning of 2006, is there any option to rectify
> > >> this error, other then passing rectifying JV in 2005(coz in that case if 
> > >> I
> > >> take last year TB then ending balance of this account would be Zero)  or
> > >> restoring the backup and doing closing procedure again.
> > >>
> > >> Thanks in Advance
> > >>
> > >>
> > >>
> > >>
> > >> 
> > 
> > 
> > 
0
Akram1 (98)
4/8/2006 6:55:02 AM
Hi Akram

Thank you very much for your kind cooperation.

Regards,

Shabnam

0
4/9/2006 10:41:36 PM
Reply:

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