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Account can not be defined as Acquisition account

  • Nov 30, 2021 5:52 PM UTC
  • 2 replies
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Hi,

I am trying to add the following account as an acquisition account, but am getting the below error.
I tried clearing out the hold-table thinking maybe if there was pending activity against this account it may cause the error but it still persists.

 

Best regards,
 

 

Best answer by Nancy Fink

The current design of IFS Applications is such that it doesn't allow an account connected with a transaction to be redefined as an acquisition account. If the customer wants a particular account to be defined as an acquisition account he should do so for a fresh account which is not connected with any transactions.
This is because if an account is converted into an acquisition account when it has balances the FA ledger balances will be distorted and may not reconcile with the GL

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2 replies

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  • Superhero (Employee)
  • Answer
  • Nov 30, 2021 5:56 PM UTC

The current design of IFS Applications is such that it doesn't allow an account connected with a transaction to be redefined as an acquisition account. If the customer wants a particular account to be defined as an acquisition account he should do so for a fresh account which is not connected with any transactions.
This is because if an account is converted into an acquisition account when it has balances the FA ledger balances will be distorted and may not reconcile with the GL


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  • Author
  • Sidekick (Customer)
  • Nov 30, 2021 6:00 PM UTC

@Nancy Fink thank you!