Reverse Incorrect G/L Entry Posting Date

dasrabe

This is probably a simple one, but coming from a more technical than fiscal background I thought I'd throw it out.

At yearend, one of our users posted several G/L Journal entries with a date of 12/28/06 instead of 12/28/05. As a techie, my first thought would be to make a change to the G/L table records correcting the date, however I know that this is a major accounting faux paux and I believe Navision locks the G/L records to begin with.

That being the case, is the best way to fix this to have them create two new journal entries for each transaction. The first dated on 12/28/06 that reverses the incorrect posting and the second matching the original entry but with the correct date of 12/28/05? There are about 20 entries, so if there is an easier way I'd love to hear it.

ara3n

If you are using 4.0 you can reverse the entries.
Manually it is very easy to create 20 journal lines.


And yes if you do it manually you are taking the correct approach.

Marije_Brummel

Doing it manualy in the tables is the easiest, but officialy not allowed.

If you are going to correct it, please document it because otherwise you won't understand it if you see it 5 years from now.

To avoid this, use the allow posting date functionality in the g/l setup.

sgg

Of course, correcting it manually in the G/L Entry table seems the quickest and way. but by accounting principles, it is NOT allowed.

There are other considerations too like if the entries involve Only GL accounts in which case it goes only to the G/L Entry Table or else some other Ledger Entry tables will be involved.

Also to be considered is the possiblity of entries already posted as Analysis View Entries.

Therefore, I think the BEST option is to post REVERSAL/Correction entries. This could be done with the Reversal facilities in the system (4.0) or mark the entries as CORRECTION entries in the Journal(3.6,3.7).