Create a GL_Journal when reconciling posting manually
Nicolas Micoud
So, when there is a difference (even minor), you have to manually add a GL_Journal to set it to 0.
And then you have to refresh the content and re-select posting.
Idea would be to allow user to create this journal directly from the panel.
2 SysConfigs would be needed :
* Maximum Amount
* Maximum Percentage of the total
So the journal would be created if Maximum Amount is >= 2 and Percentage is >= 2
A checkbox could be added between Difference and Process and be enabled if conditions are met.
User can then tick it, and the Process button will then be enabled too.
* Date (prefilled with the maximum date of selected posting)
* Description
* DocType
* Account
When accepting to create the journal, the program should check that posting is balanced (which should be the case) and then execute the generateReconciliation method.
Nicolas Micoud
Steven Sackett
Hi Nicolas,
Judging by the number of replies to your post I think you have found a topic of interest only to accountants ;-)
I agree that it would be great if you could display small differences in the GL Reconciliation Manual form and then auto-create a journal to net out the difference.
An area where that would be useful is dealing with foreign currency trx. I use AR as my example but AP is the same. Each of the Completions of AR Invoice, AR Payment and Payment Allocation will generate postings that will sum internally to zero and post ok but the debit to AR Control from the Invoice may be 1or 2 cents different to the credit to AR Control from the Payment Allocation. Similarly you can get a small diff between Payment and Payment Allocation due to the same currency translation issues.
To completely clear an AR invoice from the AR Control account you may have to post a 1 or 2 cent journal so that the ‘Invoice + Payment Allocation + journal’ sum to zero in the GL Reconciliation Manual form and can be ‘Processed’ in the form. So, we need to generate a journal like..
Dr AR Control A/c, BP=SeedFarm 0.01
Cr Realised Exchange Gain/Loss, BP=SeedFarm 0.01 (BP not essential but makes sense to post)
The accounting dimensions that need to have values selected will be different in each site. The method to allow the required selection could perhaps consider the following experience…
We needed to Create Payment(s) in the Bank Statement line and found the standard functionality inadequate. It did not allow enough control of what accounting dimensions could be selected and would pick up the default value in the Accounting Schema when you did not want it to. The solution was to add a 'Report and Process' to the ‘Create Payment’ button which then allowed the use of Parameters to set some accounting dimensions as mandatory, for some to have a read-only value, for some to be null with a mandatory overwrite (etc). It allowed very good control over what the user needed to select for the posting. [I think this should be in core ;-) ]
I could see such an approach working in your scenario.. for example you may not have BP flagged as an accounting dimension but still wish to force the selection of a BP when entering journals that affect AR Control. Each site could define the Report and Process Parameters that were relevant to them rather than having to hard code stuff.
Unrelated to your post but for my amusement since GL Reconciliation Manual is the topic….
Customers would ask what they can use the GL Reconciliation Manual for. An example we used was to store reconciliation information directly in the GL so you you could avoid annoying auditor questions…
Assume you had an account like “Prepaid Insurances” and it had 40 transactions that summed to a debit balance of $3000 at year end and the $3000 was the correct prepayment value.
The user would post a journal…..
debit Prepaid Insurances $3000
credit Prepaid Insurances $3000
...and attach any working paper to the journal
They would then use GL Reconciliation Manual to select the 40 uncleared transactions and the $3000 journal credit line and then 'Process' these as a Match.
GL Reconciliation Manual would then show only a single $3000 journal debit line as uncleared prepayment value transaction at year-end... with working paper.