Manual Posting to Multiple Versions

[takashiro]

Hi experts,

Our customer runs consolidation in 2 different accounting principles: Local GAAP and IFRS.

In Group Reporting, as far as I understand, 2 versions need to be created. (Each version representing Local and IFRS respectively)

My question: Is it possible to post manual journal entries in both versions simultaneously in Group Reporting?

I know that Extension Version might a solution, but it can only post group currencies, which does not match our customer's requirement. They want to post in both local and group currencies.

[I341721 · Accepted solution]

Hi,

In 'Post Group Journal Entries' app, you cannot select 2 standard versions at a time.

One option I see is that you can use the app 'Import Group Journal Entries'. Here, you need to maintain data for both versions in the template file and simply upload it.

Regards

Madhu

[takashiro · Accepted solution]

Hi,

Thank you for your suggestion!

I will consider uploading dual entries through 'Import Group Journal Entries' as an option.

Regards,

Takashiro

[JAnnapureddy]

Do not suggest the COPY option . If users dont select the document numbers, it will copy everying from One GAAP to another GAAP. Please follow Madhu's advices to upload both journals in a single template.

[vineet_s]

Hi Takashiro,

Another option you can consider is to use the Copy Transaction Data app to copy the journals from one version to another. You can set filters on document type to specify only manual journals are copied over.

Regards

Vineet

[takashiro]

Hi Vineet,

Thank you for your comment!

"Copy Transaction Data" app seems to be another good option. I will consider it. Thanks!

Regards,

Takashiro

[JAnnapureddy]

Do not suggest the COPY option . If users don't select the document numbers, it will copy everything from One GAAP to another GAAP. Please follow Madhu's advices to upload both journals in a single template.

[takashiro]

Hi Jana,

Thank you your input!

I was thinking of the following scenario.
1. Post manual journal entries in Local GAAP version
2. Copy ALL manual entries from Local GAAP version to IFRS version using "Copy Transaction Data"
3. Add IFRS-specific journal entries to IFRS version.

Step2 may be somewhat risky as you mentioned.
Maybe we could have a variant prepared so that business users won't copy unnecessary entries by mistake.

Our customer has not decided which solution to take yet, but we'll take your suggestion into consideration.
Thank you!

Regards,
Takashiro

[JAnnapureddy]

Varint is good option . anyhow, user should aware of the entire copy function. Goodluck!!