How to correct journal entries made into the wrong period

idealsceneprod · 2016-03-18

So, just ran Adjust cost - item entries report, and due to the fact that we didn't have Inventory Periods defined (or closed), we had over 1000 entries that were made in periods that should've been closed.

Now, I need to redo those entries.

I tried creating a Gen Journal with reversing entries, and correct entries in the current period, but I get an error because the dates on the original entry and the other entry have different dates.

Any idea what I should do? How can I correct this?

Thanks a lot,

Val

idealsceneprod · 2016-03-21

I know I can modify the code to permit this to post, but I don't know what the ramifications will be.

Does anybody know the standard way of doing this?

How would it look to an auditor?

davmac1 · 2016-03-21

you need to reverse all the entries. you can modify the reverse G/L entries to do this for ledger entries that were not created from a G/L journal.
After creating the reversing batch, copy it before posting. After posting, then change your copy to have the dates you want.
Never change the code to allow posting out of balance unless you have to fix an out of balance problem, and there is no other way.

idealsceneprod · 2016-03-21

Great, I created a new function to copy the G/L entries into a Gen Journal with reverse values, and another to copy the G/L entries as-is but with today's date.

Does that seem OK? I made sure dimensions were copied over.

Thanks a lot for the reply

V

davmac1 · 2016-03-22

That should work for the G/L.
Your value entries will have the wrong dates - but that may not affect you as long as you do not try to reconcile item reconciliation with older periods.

How to correct journal entries made into the wrong period

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