How to Adjust for AR Amount Migrated to Wrong Profit Center?

[Former Member]

How can we make an adjustment to move an AR balance migrated to the wrong profit center in ByDesign? The total between profit centers balances out in the General Ledger but is out of balance in the Subledger between profit centers. We can't use a Manual JEV since this won't make an adjustment to the Subledger.

[former_member221103]

Hi Rachel,

You need to post a re-classification entry to move the balance out of wrong profit center directly in Finance, this will only have an impact in Finance. You need to use a Suspense account/Clearing account to post the entry.

Entry 1 - With Wrong Profit Center

Dr. Suspense/Clearing A/C

Cr. Customer A/C

Entry 2 - With Correct Profit Center

Dr. Customer A/C

Cr. Suspense/Clearing A/C

By posting these two entries, balance at profit center level will correctly move.

Regards

[JohnMeadows]

Rachel

so long as you haven't closed the project (or moved the migration date for posting) then you can do another GL Balances migration with two lines, first line to reverse the original posting with the error. second line to make the correct posting.

john

[Former Member]

Can you clarify what you meant by "you haven't closed the project yet"? If I'm understanding this correctly, we would do another migration but only for the AR balances/accounts that we wanted to change? Does this involve completing a new template? Thanks for your time!

[JohnMeadows]

Rachel

I meant did you close the implementation project. If you have you will need to start a new change project to access the migration objects.

You understand correctly, do a GL balances migration the reverses the erroneous values (and dont forget to include the profit centers!) and in the same template add the same values again, but with the correct profit centers. Ensure the template balance is zero before processing.

John