Question

Final year end: Gap between Currency amount and accountabilty

  • 3 October 2023
  • 11 replies
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C
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Hi, 

We are facing an issue with final year end process:

When we proceed the final year end process, there is some transactions with amounts in GL in the accounting currency (EUR), the currencies amounts (in original currencies) and the parallel currency (EUR too).

When we generate the final voucher YE - for closure and opening of the new period, it doesn’t take into account the amounts in currencies (original currencies) for some accounts only.

For example:

  Accountability in EURO Currency amount Parallel Curr (Euro)
GL sum amounts 0 61 K 0
Gral Bal sum amounts 0 0 0
YE sum amounts 0 53 K 0

 

We analysed and saw that some accounts they are not fecthed in the YE voucher so there is no amounts in currency amount for them.

In BG -> there is no discrepancies, because the accounts not fetched in the YE process have zero amounts in currencies. It sum up zero.

in GL analysis, we can see the gap between the all period (sum of all currencies amounts : 61K ) and the YE voucher (sum of all currencies amounts: 53K ).

We analysed and saw that all the acounts that are not fecthed doesn’t have the checkbox “currency balance” selected.

  • Does seomeone already meet this issue ?
  • Is the checkbox “currrency balance” not selected the reason of the discrepency ?
  • What is the impact to not have the all correct amount in Currency amount in the YE voucher for the begining of the new period ?
  • and last but not least, doesn’t someone know how to correct that ?

Thanks for your help.

Camille

 

  • of course we tried to select the checbox “curr balance” in the accounts but there is an error message. We tried to cancel the currencies amount transaction to be able to do the selection, but coudn’t.

 

11 replies

Marcel.Ausan
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@CBRUEL did you found out a way to correct this?

https://www.linkedin.com/in/marcelausan/
Ralph Gericke
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Please have a look at:

Final year end : balance accounting currency not equal to zero | IFS Community

C
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Hi @Marcel.Ausan , 

Yes I think I found a way to correct this.

@Ralph Gericke The balance in EURO was OK, in parallel currency too and I didn’t had any error message saying that the balance in Currency was KO. The ticket you are refering did’nt answer my query, I already have been through it.

Our situation is different:

We have a difference betwen the GL sum amount and the General balance (comparing the view “GL voucher Rows analysis” and “GL balance accounting” view) but only in currency transactions amounts and we are able to generate the YE voucher but, this one doesn’t fecthed all the amounts in currencies which are in the GL.

Indeed its seems that the YE voucher is not fecthing the data from the GL … but from the Balance view. Finally, There is a mistake in my previous post, the balance view is equal to 53K in currencies.

Reason: A list of account, related to the spread we had did’nt had the checkbox selected “currency balance” so they didn’t generate any currency balance. Consequently, the YE voucher doesn’t take into account the related amounts in currencies for those one.

Correction tried: to tick the checbox “currency balance” and have a currency code part “J” field in with the correct currency code. 

We are obliged to do a manual voucher before to set to null the BG in Euro, then do this setting correction, and recreate the balance in all currency with a new voucher. 

We are trying to do this but we are not sure this will work and this is the exact reason.

But we did a single test with manual voucher after the correction done on the accounts and the balance in currency has been correctly generated, 😀so I think and hope this global correction process will work.

I’ll let you know, 

Regrads, 

Camille

TimeMarBou
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Hi Camille,

Just to add, I had last yeat a similar issue and I did the same thing about creating a Manual Voucher to fix the currency differences.

However, in my case, I couldn’t re-open the year (I needed to add something). Then I had a new error about not balance in that manual voucher created. Not sure if it was because I used as contra-account a Currency Balance account and the system makes calculation.

So, make sure to also test the re-open scenario in your TEST environment before making the closing (to make sure 😉)

 

Regards,

Marijo

Marcel.Ausan
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@CBRUEL if I followed this correctly, I still don’t get one thing.

  1. voucher to clear off the balance - set it to 0
  2. change the balance currency setting on the account
  3. voucher to recreate the balance on the account → will also generate currency balance

If in your case you had previous postings on that account which generated a currency balance, how are you able to change the currency balance checkbox on the account?

 

@TimeMarBou agree with you. YE Rollback should also be thoroughly tested. We have also spotted a bug in the YE Rollback voucher (23R1) → for a few accounts it’s lost a few cents and and currency balance on those accounts is KO:

 

https://www.linkedin.com/in/marcelausan/
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Hi @TimeMarBou , 

thanks for your answer. 

to answer your questions and comments:

  • yes of course we are doing many tests in TEST environnements, recently copied from PROD.
  • yes using a counter account for the voucher does calculate new balances in this account, you should use statistical account only for counterpart in that case.

@Marcel.Ausan thank you too, 

To explain better the current scenario:

There is no issue on the GL finally, only the currency balance are not fully calculated, but to have them calculated, we need the “currency balance” tick on the account and then only, we have to recreate a manual voucher that does generated, after the correction, the currency balances.

prerequesite: have the year concerned open, if not - do the process to rollback the YE voucher and reopen the year cconcerned

We have this situation:

  Accountabilty EUR Currency transactions Parrallel Curr EUR
GL sum in the accounts 10 5 10
step 1 :GL voucher manual correction to set balance to null -10 -5 -10

 

Account used: balance sheet accounts only face to statistical account as the voucher should be equal to zero but the balance on the balance sheet accounts set to nul.

then second step: we developped a Script to :

  • set to null the code part J =currency code part in all the GL lines for those accounts
  • tick the checbox “currency balance” on the related accounts
  • recreate the code part J Currency  in all the GL account- note that they need to be equal to the currrency in accountability (if USD in accountability - code part J= USD ) 

this script cannot be shared as it has been developped specifically for our customer , but here is the idea.

then step 3: check the script, if all corrections are OK (checkbox ticked on the accounts and curr code part restore) , generate the manual voucher to regenerated the balances.

 

  Accountability EUR currency transactions Parallel Curr EUR
GL manual voucher +10 +5 +10

 

at this step, the manual voucher, does also generated the currency balances this time and the EUR an // balances are regenerated like it was before: You’re correct @Marcel.

Then we checked the currency balances: all is OK and did the YE process again: all is OK too: the YE voucher does fetched the currency balances.

This is only done in our TEST environement, but as for now, all is OK with this process.

 

And yes, we did had the same error with 62 cents in spread when generated the rollback YE. This is corrected after we redid the YE voucher again. It was not necessary to correct it, the new YE voucher did the full correction automatically and fetched all past postings of the year.

Is this bug fixed in (23R1) version ? We are in V10 version.

I hope this explaination does helps you, 

thanks and regards, 

 

Camille

C
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Hi,

following our tests at this step, the script is KO, as it does have an impact on the Balance analysis view, the result is not correct on this view… 

We are trynig to correct the script to restaure correctly the data in the Balance view but not I’m not sur this is possible.

  • Does someone already had to tick the checkbox “currency balance” on accounts already used ? with correction on past vouchers ? 

How did you select the checkbox? Is it feasable?

I’m interested in all solutions or ideas.

Thanks

Camille

TimeMarBou
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Hi Camille,

I created a new account with the tick and the old one without valid dates. Of course, I made the voucher to move the balance to the new account.

That is the easiest way without struggling with scripts or data repair.

Regards.

Marcel.Ausan
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@CBRUEL  @TimeMarBou  we also went the route of creating a new account and then a Q voucher to move the balance from old account to new account. Luckily for us we only had 3 accounts in this situation.

https://www.linkedin.com/in/marcelausan/
C
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 Thanks @Marcel.Ausan and @TimeMarBou  for your answers !

We will try to keep the script with the same process but only for the middle part: 

  • select the “currency balance” on the related accounts which are not used with Currrency code part J in postings
  • and we will recreate new accounts with Currency balance selected
  • and migrate the balance from old accounts to the new accounts created using Q voucher

Unfortunatly, we have many accounts to change…but this process seems easier and proper, without data repairs…

Thanks for you answers, 

Camille , 

C
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Hi, @Marcel.Ausan , @TimeMarBou 

For your information, finally, the script we did worked fine without any changes in the past data,.

it did in the same time:

  • select the “currency balance” set up to ticked 
  • select currency code part to “blocked”

this worked fine for all accounts we wanted (whatever they had curr part code J already used or not). 😀

We didn’t changed the past accounting data. 👍

For past years, we had been able to do the currency revalution process using the account already selected with “curr balance” + we did a manual voucher for the others accounts.

Then, for the future, it will be OK using any account ticked with “currency balance”.

The currency spread we had on few cents, has been corrected by reprocesing the annual closure process again.

Hope this helps, 

Thanks

Camille

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