Adjusting entries for control accounts
In this Sage ERP Accpac Tips & Tricks post we will tell you about adjusting entries for control accounts, adjusting the book balance in bank services and how to look up the errors for an error batch.
Adjusting Entries For Control Accounts
Good accounting practices require you to ensure the balances in your General Ledger (GL) control accounts such as Accounts Payable(AP) and Accounts Receivable (AR) match the balances in the subledger. Sage ERP Accpac has built-in controls to prevent transactions from other sources being posted to control accounts. A GL account designated as the control account for a subledger only can accept transactions that originate from that subledger. However, you may occasionally find an out-of-balance condition due to damaged data or power interruptions that require you to make a GL Journal Entry (JE) to directly adjust the balance in a subledger control account.
In this example, we show how make a GL JE in an AP control account. Directly from the GL module, perform the following steps:
1.Log on to a company and expand GL in the explorer pane and click GL Accounts.
2.In the windows pane, open Accounts.
3.Using the account finder, select an AP control account.
4.Click the Subledger tab. Only AP will be listed in the Subledger table.
5.Click anywhere inside the Subledger table and press INSERT to create a new entry.
6.With a new line highlighted, click the table heading to open the subledger finder.
7.In the finder, select the entry where Source Ledger is GL and Source Type is JE and click Select.
8.Click Save in the GL Accounts window to save the information.
9.A JE can now be made which will affect the AP control account.
Once this journal entry has been entered and posted, the setup information for this control account may be reverted back to its original setting.
How To Look Up The Errors For An Error Batch
When there is an error in a batch, the system may create an Error Batch upon posting of the batch. In this tip we show you how to find out what the error is.
1.From Transaction Reports, select Posting Errors Report.
2.Select the error report type under the Select Error Report, and enter the Posting Sequence of the batch that you attempted to post.
3.The resulting report will provide you with the error details for the batch.
4.Open the Error Batch to correct the errors
5.Post the corrected Error Batch.