Enter Adjustment Journals
Explanation
This activity is used
to enter adjustment journals that are required to adjust the transferred
balances which will be used in the Group Consolidation process. Adjustment
journals can be entered against reporting entities which represent reporting
companies, or against separate adjustment entities.
Prerequisites
In order to perform this activity:
- A reporting transaction type with
Adjustment function should have been defined.
- A reporting entity
should have been defined and connected to the reporting transaction type with
Adjustment function.
- A balance version should have been defined.
- The used combination of reporting transaction type, balance version and
period should have the Open period status for the used reporting
entity in the Reporting
Period Status window.
- Current user should have security access to enter adjustment journals
for the used combination of reporting entity and reporting transaction type.
System Effects
As a result of this activity, an adjustment journal is created. If this
journal has the Approved status, it will be included in the balance
consolidation. Journals with In Progress or Awaiting Approval
status can also be included if required.
Window
Adjustment Journal Entry
Related Window Descriptions
Adjustment Journal Entry
Procedure
To enter an adjustment:
- Open the Adjustment
Journal Entry window and create a new record in the header.
- Enter values in the Reporting Entity, Period, Copy
Until Period, Reporting Transaction Type and Balance Version
fields. The List of Values
can be used to select the required values. Enter a journal ID
in the Journal ID field.
- Enter a description in the Journal Description field if required.
- Select the Keep Rate at Copy and/or Use Correction Rows
check boxes if required.
- Create a new record in the table to enter a new journal row.
- Specify the code string information for the new
journal row by entering the required values in the code part fields.
- Modify the currency code displayed in the
Currency Code field if you want to enter the adjustment
amounts in a currency different to the reporting entity's default currency.
- Enter the adjustment amount in either the Currency Debit Amount,
Currency Credit Amount or the Currency Amount field.
- Repeat steps 5-8 to enter all the required journal rows.
- Save the information.
- Depending on your security access, change the status to either
Awaiting Approval or Approved and save again.
Note: All rows entered for a journal should be in balance in the
reporting entity currency before the status can be changed to Awaiting
Approval or Approved. The rows should also balance separately for
Balance Sheet accounts and Income Statement accounts. If not, the system will
automatically create balancing rows based on posting rules defined for GCP1
and/or GCP2 posting types in IFS\Posting Control.