Recurring Journal Revesal Date

NaviDev

In Navision the reversal date of a recurring entry is automatically set to the next day. What I want Is to set to a particullar date for the reversal date of the transaction. How can I do this?

Thanks for any suggestion.

Deep

When the Recurring Method is "Reversing", the journal get reversed the next day only. In practice too this is correct as the month or period closing such kind of entries needs to be passed.

Anyways if you want to change the date, it needs a fiddle with the code.

Alex_Chow

NaviDev wrote:

In Navision the reversal date of a recurring entry is automatically set to the next day. What I want Is to set to a particullar date for the reversal date of the transaction. How can I do this?

Thanks for any suggestion.

Is there a business/accounting reason why you would want this?

NaviDev

Thanks to you replies.

Is there a business/accounting reason why you would want this?

Our client want to adopt a functionality from another system (like SAP, Great Plains) that have this functionality.

Alex_Chow

Yes, but what would be the business reason for wanting to replicate such a function? Making modifications for the sake of making modification is the right way to ensure you go over budget.

ssingla

Our client want to adopt a functionality from another system (like SAP, Great Plains) that have this functionality.

Just Wondering can SAP have a Analysis by Dimension functionality :-k :-k

NaviDev

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NaviDev

Opps! sorry, I post a wrong detail. I got confused by so many load of work given by my boss.... Here is our client wants.

They have an early cut off for every month. For example in this month their cut off will be January 25. All transaction must be closed by this time. So all accruals must be posted too. They enter the accrual entries in the recurring journal dated January 25 (that must be January 31 for the system to be able to reverse it by February 01, but the client do not wants it this way because the cut off is January 25).

diptish.naskar

NaviDev wrote:

Opps! sorry, I post a wrong detail. I got confused by so many load of work given by my boss.... Here is our client wants.

They have an early cut off for every month. For example in this month their cut off will be January 25. All transaction must be closed by this time. So all accruals must be posted too. They enter the accrual entries in the recurring journal dated January 25 (that must be January 31 for the system to be able to reverse it by February 01, but the client do not wants it this way because the cut off is January 25).

Hi,

Even I faced somehow the same problem, you have two options in front of you. 1-Customize the same where you can enter the date of reversal before the reversal takes place. 2. Manually pass the entry with the deisred posting date.

insanni

Since you choose 'reversal' method, you must do it one day before 'month end close', just dont forget to set up your accounting periods follow your client's monthly calender
If your closing date is Jan 25, when you post the recurring reversal, it will be on Jan 25 (for the accrual) and system will create the reversal on Jan 26 automatically, and it should be ok, because in your client financial report, Jan 26 will be in February report, not in January

NaviDev

insanni wrote:

Since you choose 'reversal' method, you must do it one day before 'month end close', just dont forget to set up your accounting periods follow your client's monthly calender
If your closing date is Jan 25, when you post the recurring reversal, it will be on Jan 25 (for the accrual) and system will create the reversal on Jan 26 automatically, and it should be ok, because in your client financial report, Jan 26 will be in February report, not in January

If you used standard reports and filtering date as of february 1. It will not show the transactions, because the reversal was dated January 26.

insanni

actually i really dont understand how your accounting read the report
you can't read the report in February normally before you do recurring again, otherwise, as you mentioned, you will see the reversing transaction only in the february report
in another word, you must ignore all the reversal entries until you do recurring journal again (for february report)

insanni

sorry, i think my answer is not exactly right with your question
but doesnt mean it is wrong

if your accounting month end close date is january 25, so, for the next month must begin on january 26
you should choose a range date to see the whole transastions within the month, but it's depend on what do you want to see, but it doesnt mean there is a problem in the reversal date
based on accounting role (as long as i know), reversal transaction date is always on the earlier date of the month

NaviDev

To solved this issue. We have added a process to create a reversing entry in the general journal for the reversing entry (This is for F Fixed and V Variable) and include the posting of this entries in the after posting of the recurring journal entries.

Alex_Chow

NaviDev wrote:

insanni wrote:

Since you choose 'reversal' method, you must do it one day before 'month end close', just dont forget to set up your accounting periods follow your client's monthly calender
If your closing date is Jan 25, when you post the recurring reversal, it will be on Jan 25 (for the accrual) and system will create the reversal on Jan 26 automatically, and it should be ok, because in your client financial report, Jan 26 will be in February report, not in January

If you used standard reports and filtering date as of february 1. It will not show the transactions, because the reversal was dated January 26.

If your accounting period ends on Jan 25th, wouldn't you want to print the reports for the next period starting on Jan 26th?

NaviDev

Alex Chow wrote:

If your accounting period ends on Jan 25th, wouldn't you want to print the reports for the next period starting on Jan 26th?

The thing is they have Jan 25 only as an early cut off,and the accounting period ends on Jan 31.

Alex_Chow

NaviDev wrote:

Alex Chow wrote:

If your accounting period ends on Jan 25th, wouldn't you want to print the reports for the next period starting on Jan 26th?

The thing is they have Jan 25 only as an early cut off,and the accounting period ends on Jan 31.

If this is the case, then shouldn't the accrual entries be made on the 31st? If you post your accruals on the 25th, would that be misleading if there are additional transactions between 26th and 31th?

Something doesn't sound right...

NaviDev

Alex Chow wrote:

Something doesn't sound right...

Yup. I already told the client that this transaction must be posted on January 31 so that the reversing transaction will be in Feb 1. But unfotunately they do not want this way. What they want. They post the transaction in January 25 and the reversing transaction will be in february 1 (Which I think that the client has a point).

idiot

This is frequently a scenario for accruals transactions when the users goes on holiday & no one else is authorized to post on their behalf.
They would typically post on some date & specify the reversal on the 1st day of the following month as they are not around on the last day of the month.
One solution is to create a batch for these kind of entries & use the scheduler to post the batch on the last day of the month.

Miklos_Hollender

We have hit the same problem, but I interpret it differently. Just because we are closing at 25th, we are still closing with 31st and of course the reversal needs to be booked at 1st. This is OK. The only issue is the filter in CU13 that recurring journal lines later than the workdate are not booked. This makes no sense. It must be for accountants to decide what dates are OK to post and what not, and the workdate is a very arbitrary limit. So the correct thing to do is to filter it up to the "Allow Posting To" date in the GL Setup. So we gonna change CU13 accordingly.

If anyone from Microsoft reads it, at least make it configurable i.e. "Recurring journals up to:", Option field: workdate,allow posting to date.