When transferring an Inventory item to Company Rental Asset using the RMB on the Inventory Part in Stock screen, the system requires posting control M259 for Pre Posting to the FA Object ID. However, this was not in place when the initial transfer from Company Owned to Company Rental Asset occurred. How do we fix the transaction record to add the FA Object ID to the transaction line? It is stuck in Inventory Transaction History and we will not be able to close the books until we can resolve. I have a similar error when we pre posted with a FA object with the wrong status. A recommended solution would be appreciated.
We use transaction based parallel currency where accounting currency is in GBP and parallel currency is in USD. Currency rates for both accounting and parallel currency are updated monthly. In this scenario, transaction and accounting currency are the same (GBP). When posting receipt of goods in Month1, Inventory is debited and GRNI is credited. In Month2, the supplier invoice debits GRNI and credits AP, however, the GRNI amount in parallel currency is different due to a new currency rate, thus the amount in the GRNI account is not fully reversed in parallel currency. What is the recommended solution to manage these balances when this can potentially affect thousands of transactions? A gross month-end adjustment? There is concern this creates another set of books to reconcile every month, adding more work for the users.
Already have an account? Login
No account yet? Create an account
Enter your username or e-mail address. We'll send you an e-mail with instructions to reset your password.
Sorry, we're still checking this file's contents to make sure it's safe to download. Please try again in a few minutes.
Sorry, our virus scanner detected that this file isn't safe to download.