Anyone using a closing period for audit adjustments? E9.05.702A

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So I was just informed that while you can make audit adjustments in a closing period, the standard Financial Report Designer was not modified to be able to report the data correctly.  If you report on the closing period (for us a 13th period) it will report the YTD balance instead of the period balance.  I have not tested to see if this is still the case in E10. 

 

We’re going back to our old method of making audit adjustments in our last “regular” period.

 

Mike

 

PS – I was “1099 Check Boxed”!  (inside joke for old timers from the Vantage days) 

 

From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com]
Sent: Saturday, January 10, 2015 2:06 PM
To: vantage@yahoogroups.com
Subject: [Vantage] Re: Anyone using a closing period for audit adjustments? E9.05.702A

 

 

I am for the first time.  So please keep me in the loop regarding any issues.

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We use a closing period for audit adjustments. Period 12 runs thru Dec 30; period 13 is Dec 31. We don't use MES so are able to ask user to NOT use Dec 31 for transactions. Generally we have them use the Dec 30 although we post time tickets to a Sunday date so so payroll overtime calculations are ok.Financials run thru Dec 30 reflect profit before taxes; financials run thru Dec 31 reflect final profit after taxes. Yes, we have oops that need to be moved to Dec 30. I don't know if you could do it if you use MES.

Sue
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Our primary problem is that we’ve created a Fiscal Year with 12 periods and one closing period.  We posted FY14 accounting audit adjustments to the closing period, period 13.  However, when you build a financial report with the Financial Report Designer displaying the 13 columns it doesn’t display properly.  That is, whenever you include the 13th period the amounts in each period are cumulative instead of for that period alone.  If you choose to print for 12 periods only it works correctly.   Strange.  Anyway, I have an open call with support.

 

Thanks,

Mike

 

From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com]
Sent: Friday, January 09, 2015 6:08 AM
To: vantage@yahoogroups.com
Subject: [Vantage] Re: Anyone using a closing period for audit adjustments? E9.05.702A

 

 

We use a closing period for audit adjustments. Period 12 runs thru Dec 30; period 13 is Dec 31. We don't use MES so are able to ask user to NOT use Dec 31 for transactions. Generally we have them use the Dec 30 although we post time tickets to a Sunday date so so payroll overtime calculations are ok.Financials run thru Dec 30 reflect profit before taxes; financials run thru Dec 31 reflect final profit after taxes. Yes, we have oops that need to be moved to Dec 30. I don't know if you could do it if you use MES.

Sue

5
I am for the first time.  So please keep me in the loop regarding any issues.