Parallel Currency in GL not in Balance

Hi,

Do you have any GL transactions which were migrated from a previous version of IFS? If the answer is ‘yes’ that must be a reason for the currency balance difference as in previous versions it did not have the validation to balance it.

In this type of scenarios you can post a manual voucher to a temporary account with Amount 0.00 and parallel currency Amount as $1.50 (Debit or credit). This will update the GL’s parallel currency balance.

As the offset entry you can use a statistic account with zero amount and Parallel currency amount as debit or credit $1.50.

Please note that this is a temporary solution and it might need further investigation if you want to identify the real root cause for the currency imbalance.

You can try this in a test environment and verify.

Thanks,

Shehan Almeida.

Hi Shehan.

Last year this is exactly what I had to do to get it to work (as that was the first year on APPS9).  However, this year, when I tried to do the same thing, I’m still getting an error message when I try to do the final year end.  The error message reads “the balance in accounting currency and parallel currency for assets and liabilities must be equal to zero for 208 before final year end closing can be performed”.

The entry I posted was a debit to the statistical account for $1.50 and a credit to equity for $1.50.

Hi Jennett,

If the balance was fixed in previous year then it this balance must be coming from new transactions posted year 2018. As I mentioned above it will require further investigations to identify the root cause of the issue.

As a starter you run the balance analysis for each period (including period 0) of 2018 and check whether in which period this a problem starts.

Are you posting this manual voucher in December or period 13? 

Just a remark: Statistical account are not taken into account at final year end balance check. Mandatory condition is that assets are equal to liabilities in terms of accounting currency and parallel currency. That’s why voucher with statistical account is ineffective.