Program Description
This new program in Revision 14 can be found on the General Ledger Data Entry menu (GL-1-4). Transactions can be set up in GL Repeating Entry File Maintenance (GL-3-6) specifying debit account, credit account, dollar amount and description. The GL Reversing Entries File can be used to reverse those entries out.
For example: You have a transaction that needs to be posted prior to running End of Month Reports. However you would like to reverse that transaction back out after your AP/GL end of month has been completed. You could set that transaction up in GL Repeating Entry File Maintenance and also add it to the GL Reversing Entries File. Before performing AP/GL end of month, run Create GL Repeating Entries (GL-1-3). Be sure that the date is in the fiscal month that you are about to close. Then, run normal AP/GL end of month. After you open the new month, run the Create GL Reversing Entries program (with a date that is in the fiscal month you just closed). This will reverse those transactions back out of the system. The program will automatically post the transactions to General Ledger file (GLDISTD) and update Chart Of Accounts File (CHART). The program will then update the Last Fiscal Month Updated in the GL Repeating Entry File, so that if the program is accidentally ran a second time for the same month, the program will not repost the same information. See documentation for GL Repeating Entry File Maintenance on how to set up the file.
This program works exactly in the same manner as the Create GL Repeating Entries. It will debit the amount that is placed in the debit account number field and credit the amount in the credit account number field. However, it will use the GL Reversing Entries File (GLREV.DT) instead of the GL Repeating Entries File (GLREP.DT).
The program will prompt for the Date Of Entry. This date will default to what was entered at the Transaction Date at the menu. This is the date that will be used to calculate fiscal month, and it will also write into the General Ledger records that are created.
In the following example, there are 4 records in the General Ledger Reversing Entries File. They will show all of the possible matches with the account types.
The first example has account number 100300 (debit account type) as the debit account and account number 200400 (credit account type) as the credit account.
The second example has account number 100500 (debit account type) as the debit account and account number 100400 (debit account type) as the credit account.
The third example has account number 200100 (credit account) as the debit account and 100200 (debit account type) as the credit account.
The fourth example has account number 200200 (credit account type) as the debit account and account number 200100 (credit account type) as the credit account.
In this example, the General Ledger Reversing Entries program and the entry date is 7/31/01 at the Date Of Entry prompt. The report will then post the necessary transactions to the General Ledger File (GLDISTD) and update the appropriate month in the Chart Of Accounts File (CHART). The report will then update the Last Fiscal Month Updated field with the fiscal month associated with the date entered by the operator.
When finished, the screen will display several pieces of information. This includes the fiscal month that was used, the voucher control number that was used, the total amount of debits, total amount of credits and the total number of transactions. The total amount of debits should equal the total amount of credits. The total number of transactions is the number of General Ledger records that were created (one for the debit and one for the credit).
A report prints out showing what was posted:
The new GL Detail By Date/Vendor/Voucher Report listed below shows that the General Ledger File (GLDISTD) was updated.
