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Hello:
I removed C's in my balance sheet's row definition for such items as Accumulated Depreciation and Accumulated Amortization within Management Reporter 2012 CU13.
Upon running the balance sheet, assets are out of balance with liabilities and owner's equity.
Any thoughts on this? :)
Thanks!
John
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Hi Deanne:
Thanks to your suggestion on looking at the Typical Balance of accounts, I updated the accounts in GP to be “Credit” instead of “Debit” and I added the Accumulated Depreciation amounts to the Property and Equipment Amounts.
And, I added the Accumulated Depreciation amounts to the Property and Equipment Amounts.
The combination of these two steps allowed for the balance sheet to balance!
Thanks, again!
John
Ok, just some things I would check for in your situation. I would add a line under each of your groups to add up a range of accounts to make sure it's matching up with the detail section of your report. i.e. under your total assets, I'd add a line and bring in the whole range of assets (1????? or however many digits are in your natural account segment). Same for payables (2????) and equity (3????). These ranges should match up with your detail. This will point out if there are any missing accounts or any problems with calculations within those sections.
Hi Matt!
It's detail.
John
Reconcile shouldn't make a difference. As far as I'm aware MR looks at the detail level to build the reports, not summary. It wouldn't hurt just to make sure (I haven't dealt with Legacy in a long time).
Is this a summary BS or a detail BS?
And, our Management Reporter is running on the Legacy Provider. So, the solution is not to recreate the Data Mart. Would running Financial Reconcile do any good?
John
Thank you, Deanne!
I corrected the typical balance of just the Accumulated Depreciation accounts for Leasehold Improvements in GP. Then, I removed the C from just this set of accounts in Management Reporter. Unfortunately, the balance sheet is still out of balance.
Hmm....can you think of anything that I may be doing wrong?
Thanks, again! Much appreciated!
John
The typical balance doesn't affect the actual balance. It is mainly for reporting (ie your Management Reporter reports).
Hi Deanne!
LOL! Right before you posted this, I had just thought about that possibility. So, I took a look. Indeed, some of the Accumulated Depreciation accounts are set to Debit when they should have been set to Credit.
Now, if we change those accounts to correctly reflect Credit in Account Maintenance, is that going to "hurt" anything as far as amounts that have been posted (i.e. open and history balances)?
I know that having the Posting Type be incorrect in Account Maintenance causes issues, especially clean-up issues after year-end.
But, I have never thought about this, in terms of whether changing an account from Debit to Credit causes any issues in GP.
Thanks, so much!
John
Did someone set up the account wrong in account maintenance?
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