Reverse and repost migration journal to another period

[Former Member]

Hi Experts

What is the best way to proceed in order to reverse the GL balances, payables, receivables and bank statements to another period.

I can see it is an option to "Reverse and repost to another period" in the journal entries for payables, receivables and bank statement but not for GL balances.

As a note, the date of the migration has been changed to a previous period so theoretically that should work.

Thank you,

Sebastian

[lokesh2 · Accepted solution]

Hi Sebastian,

For G/L Migration what you can do is, Reverse the values for each G/L line to Negative and migrate it.

( with the same migration file for the G/L only change their signs from + to - and vice versa in the migration file )

Once the migration is completed then the amounts are nullified and you can perform fresh migration on them with correct date & balances.

You can use the reverse & repost for payables, receivables.

For the Bank Statement migration, there will be a bank statement 0 that will be updated in the system if you have not posted subsequent bank statement, then you will be able to 'reverse' the bank statement ( Liquidity management > bank statement > select bank statement 0 > actions > reverse.

If you have already posted some bank statements, then unless to reverse them you will not be able to reverse the migrated bank statement.

Please mark this thread as answered/helpful if your query is answered.

Thanks

Lokesh Sharma

[Former Member · Accepted solution]

Thank you for this Lokesh,

I cannot reverse and repost for payables and receivables in the past as it is erroring out to "Alternate posting date for business transaction for accounting of Supplier Invoice 33, version 1 must be after proposed posting date"

Also, the reverse of the GL accounts will trigger some postings to the "initial migration accounts for fixed assets" and I can only clear these by re-posting the same balances to the same period.

However my new migration date is in the previous financial year and I am wondering if that will upset the balances for this initial migration accounts.

My idea was to reverse all the files back in the current fiscal year as that will clear out completely the initial migration accounts and then repost everything in the previous fiscal year. I cannot find a reverse only on payables and receivables, but only reverse and repost...How do I just reverse the payables in the current period?

At the moment I am stuck with the error when reversing the payables/receivables to the previous accounting period and fiscal year.

Appreciate your help.

[lokesh2 · Accepted solution]

Hi Sebastian,

For payables/receivables you cannot reverse back dated as the open item itself dont exist before the proposed posting date of ap/ar. ( may be you just click on 'reverse' button for the same current year before changing the migration date )

For G/L Migration, pls note: For all the G/L Migration the offsetting entry is always Initial Data Carry-forward Asset Account only ( this is only migration purpose )

Your scenario:

Migrated G/L Balances with wrong migration date(current year)

Step 1: Re-migrate with sign change in all the lines ( from + to -, vice versa )

Step 2: Change Migration posting date ( previous year )

Step 3: Again Perform the Migration with the correct values & signs

Review postings, the balances will now be reflecting it for changed migration posting date (previous year)

I have performed same steps and system allows migration & balances were updated correctly in the previous year now.

Please mark this thread as answered/helpful if your query is answered.

Thanks

Lokesh Sharma

[Former Member · Accepted solution]

Thank you Lokesh, that worked!