GL prior period update

Has anyone come up with a process/program that would allow a prior period entry/update more than 2 years? I have a customer that needs to make an entry for early 2016. Any help would be appreciated.

Infor Healthcare v10 Summit.pdf

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Legacy Contributor

Paul-Anton,

Without any modifications, you should be able to cascade the impact of a prior period journal entry manually by simply changing end balances. Just go into GL Static Control F/M and check the Change/Del Ending Balances checkbox. With that option set, bring up the impacted accounts and manually change the ending balances. Once you are done, run the financials and trial balance reports to confirm the desired results. If you changed the checkbox in GL Static Control F/M, change it back.

Keep in mind, this does not record a journal entry in history, so it does not provide a very good audit trail. Also, keep in mind you can really screw thing up this way. Please take necessary precautions and verify your results.

If you have a lot of these to do and/or do not feel comfortable with the manual method, Sequoia Group has done modifications to the GL Prior Period Update system to allow for going back further with a full audit trail, safety measures, etc. We would have no problem working with your solution partner to make that logic available.

Chris Kukuchka

Sequoia Group, Inc.

paul-antoniewicz

Thank you Chris. That is something someone else explained to me and is the direction we are taking. Messing with GL always gives me a rash but we will do it step by step. One other piece of information, if the account you are changing, affects retained earnings, then you will need to add the retained earnings account to your list after the first year end you cross.

mgreer

Paul,

I actually have programs to do this. I don't really recommend changing g/l ending balances unless you want to spend a lot of face time with and auditor. Basically, you build out a much larger string of periods to choose from. Then, in the update for Revenue and Expense type accounts you detect the first transition to period 01 (as is currently done), then just roll all the way forward with retained earnings.

Michael Greer

Aktion Associates

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