Question

Group Consolidation Adjustment vouchers in opening blance

  • 19 December 2022
  • 1 reply
  • 94 views
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For period 2021-12 I created and adjustment voucher for depreciation of goodwill. When I make an update of opening balance for period 2022-00 via rmb.  the accumulated depreciation on account 1079 is visable in period 2022-00. For period 2022-09 addition depreciation is made via adjustment voucher for period 1-9. When I run consolidation for period 2022-09 the opening balance on account 1079 is not included on account 1079. . Only the adjustment i period 2022-09 is included. Balance on account 1079 is -474366 for the consolidated period 2022-09. Which is incorrect

 

Account 1079 opening balance  2022-00                      -632 488

Adjustment A/C 1079 2022-09 ADJ voucher                -474 366

Closing balance 2022-09                                               - 1 106  854

Account 1079 i a balance sheet account. To me this seems to be an error. Or do I need to handle this in antoher way? I am using IFSAPP 10 upgrade 5

1 reply

ThushanWij
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Hi, 

The reason why your year end voucher(2021-12) of depreciation of goodwill is not reflected in the period of 2022-09, because you have entered it as an adjustment journal entry. 

Adjustment journal entries are only valid to the period of which you are running the consolidation and those will not be included in the future periods. 

Therefore, if you want to bring the year end depreciation of goodwill entry you have to either copy the same adjustment journal you entered for 2012-12 for next year periods or you can use acquisition register to update that entry as at 2012-12 as an alternative option, which then will be included in all the future consolidations. 

Hope this will help you to clear this matter... !

 

Best Regards,

Thushan Wijayawickrama 

GCD

 

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