Balance Condition

Yahoo Archive
1
I had that happen with me as well, only on the A/P side. What I did was go into company maintenance, GL, and allow unbalanced JE. Then I did a one-sided journal entry and posted it, then went back into company maintenance and took out the option of allowing an unbalanced journal entry to post. After that I provided a little in-house training with my A/P person to let her know what to look for before she posts a batch. We haven't had any problems since then.
Â
Barbara

--- On Fri, 7/11/08, Lee Henderson <lee.henderson@...> wrote:

From: Lee Henderson <lee.henderson@...>
Subject: Re: [Vantage] Balance Condition
To: vantage@yahoogroups.com
Date: Friday, July 11, 2008, 3:22 PM






FYI, This can also happen if a G/L account is posted to that is not
included in your balance sheet. There are a number of reasons why the
account wouldn't be included in the financial report, such as an
inappropriate category in the chart setup, e.g. grouped into a
category meant for summarization only.

That being said, unapplied cash was funny anyway - I recommend you
choose your A/R account to post unapplied cash. Otherwise that credit
memo it creates, makes for a mismatch between the trial balance on A/
R and your A/R report. If you think about, your A/R is legimately
reduced by the amount of unapplied cash balance.

Lee Henderson
Micrin
Dallas, TX
800-448-8771
214-688-0999 tel
214-688-0998 fax

On Jul 9, 2008, at 10:45 PM, Toby Rutter wrote:

> We are out of balance on our balance sheet by $70.92. I have traced
> the problem back to an unapplied cash transaction where Vantage
> credited 3033 (Unapplied Cash) and there is a blank for the debit. In
> other words, the system did a one-sided transaction! !!!
>
> How does anyone handle correcting one-sided transactions?
>
> I have a theory since this is related to sales. I can create an "Open
> Load" Credit Memo going back to the customer's account. In theory this
> should bring the balance sheet back into balance, unless it makes the
> accounts receivable aging and GL out of balance.
>
> Please help. What would you do in this case where there is a one-sided
> transaction that was done through the sales journal? Is there another
> way or utility or the ability to do a journal entry?
>
> Thanks,
> Toby Rutter
> USA Industries, Inc.
> South Houston, TX
>
>
>

[Non-text portions of this message have been removed]


















[Non-text portions of this message have been removed]
2
We are out of balance on our balance sheet by $70.92. I have traced
the problem back to an unapplied cash transaction where Vantage
credited 3033 (Unapplied Cash) and there is a blank for the debit. In
other words, the system did a one-sided transaction!!!!

How does anyone handle correcting one-sided transactions?

I have a theory since this is related to sales. I can create an "Open
Load" Credit Memo going back to the customer's account. In theory this
should bring the balance sheet back into balance, unless it makes the
accounts receivable aging and GL out of balance.

Please help. What would you do in this case where there is a one-sided
transaction that was done through the sales journal? Is there another
way or utility or the ability to do a journal entry?

Thanks,
Toby Rutter
USA Industries, Inc.
South Houston, TX
3
On 6.1 in Configuration Maintenance -- Company -- Module Configuration
-- General Ledger there is the option to allow unbalanced manual general
journal entries. If you click this it will allow you to enter a
one-sided entry. I think it gives you a pop-up but then allows you to
post it.

Sandy Morse
BVR Technologies Company
815-874-2471 x112

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________________________________________________________________________
12. Balance Condition
Posted by: "Toby Rutter" aberdeenmeadows@... lemuria81
Date: Wed Jul 9, 2008 8:45 pm ((PDT))

We are out of balance on our balance sheet by $70.92. I have traced
the problem back to an unapplied cash transaction where Vantage
credited 3033 (Unapplied Cash) and there is a blank for the debit. In
other words, the system did a one-sided transaction!!!!

How does anyone handle correcting one-sided transactions?

I have a theory since this is related to sales. I can create an "Open
Load" Credit Memo going back to the customer's account. In theory this
should bring the balance sheet back into balance, unless it makes the
accounts receivable aging and GL out of balance.

Please help. What would you do in this case where there is a one-sided
transaction that was done through the sales journal? Is there another
way or utility or the ability to do a journal entry?

Thanks,
Toby Rutter
USA Industries, Inc.
South Houston, TX
4
Toby - which version of vantage?



Dale Dalton



_____

From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf Of
Toby Rutter
Sent: Wednesday, July 09, 2008 10:45 PM
To: vantage@yahoogroups.com
Subject: [Vantage] Balance Condition



We are out of balance on our balance sheet by $70.92. I have traced
the problem back to an unapplied cash transaction where Vantage
credited 3033 (Unapplied Cash) and there is a blank for the debit. In
other words, the system did a one-sided transaction!!!!

How does anyone handle correcting one-sided transactions?

I have a theory since this is related to sales. I can create an "Open
Load" Credit Memo going back to the customer's account. In theory this
should bring the balance sheet back into balance, unless it makes the
accounts receivable aging and GL out of balance.

Please help. What would you do in this case where there is a one-sided
transaction that was done through the sales journal? Is there another
way or utility or the ability to do a journal entry?

Thanks,
Toby Rutter
USA Industries, Inc.
South Houston, TX





[Non-text portions of this message have been removed]
5
We are on 8.03.404B



--- In vantage@yahoogroups.com, "Dale Dalton" <daled@...> wrote:
>
> Toby - which version of vantage?
>
>
>
> Dale Dalton
>
>
>
> _____
>
> From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On
Behalf Of
> Toby Rutter
> Sent: Wednesday, July 09, 2008 10:45 PM
> To: vantage@yahoogroups.com
> Subject: [Vantage] Balance Condition
>
>
>
> We are out of balance on our balance sheet by $70.92. I have traced
> the problem back to an unapplied cash transaction where Vantage
> credited 3033 (Unapplied Cash) and there is a blank for the debit. In
> other words, the system did a one-sided transaction!!!!
>
> How does anyone handle correcting one-sided transactions?
>
> I have a theory since this is related to sales. I can create an "Open
> Load" Credit Memo going back to the customer's account. In theory this
> should bring the balance sheet back into balance, unless it makes the
> accounts receivable aging and GL out of balance.
>
> Please help. What would you do in this case where there is a one-sided
> transaction that was done through the sales journal? Is there another
> way or utility or the ability to do a journal entry?
>
> Thanks,
> Toby Rutter
> USA Industries, Inc.
> South Houston, TX
>
>
>
>
>
> [Non-text portions of this message have been removed]
>
6
There is a way to do one-sided transactions. You have to go to company
maintenance and change a setting under financials. This is something
you only want to do in case of emergency!

Thanks,
Toby



--- In vantage@yahoogroups.com, "Dale Dalton" <daled@...> wrote:
>
> Toby - which version of vantage?
>
>
>
> Dale Dalton
>
>
>
> _____
>
> From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On
Behalf Of
> Toby Rutter
> Sent: Wednesday, July 09, 2008 10:45 PM
> To: vantage@yahoogroups.com
> Subject: [Vantage] Balance Condition
>
>
>
> We are out of balance on our balance sheet by $70.92. I have traced
> the problem back to an unapplied cash transaction where Vantage
> credited 3033 (Unapplied Cash) and there is a blank for the debit. In
> other words, the system did a one-sided transaction!!!!
>
> How does anyone handle correcting one-sided transactions?
>
> I have a theory since this is related to sales. I can create an "Open
> Load" Credit Memo going back to the customer's account. In theory this
> should bring the balance sheet back into balance, unless it makes the
> accounts receivable aging and GL out of balance.
>
> Please help. What would you do in this case where there is a one-sided
> transaction that was done through the sales journal? Is there another
> way or utility or the ability to do a journal entry?
>
> Thanks,
> Toby Rutter
> USA Industries, Inc.
> South Houston, TX
>
>
>
>
>
> [Non-text portions of this message have been removed]
>
7
You will need to change the setting to allow an unbalanced GL entry. Enter and post your "balancing" entry. Change the setting back. We had this problem last year. No idea why it happened, but this is what I did.

Monty Montgomery
Controller
Allwire, Inc.

[Non-text portions of this message have been removed]
8
FYI, This can also happen if a G/L account is posted to that is not
included in your balance sheet. There are a number of reasons why the
account wouldn't be included in the financial report, such as an
inappropriate category in the chart setup, e.g. grouped into a
category meant for summarization only.

That being said, unapplied cash was funny anyway - I recommend you
choose your A/R account to post unapplied cash. Otherwise that credit
memo it creates, makes for a mismatch between the trial balance on A/
R and your A/R report. If you think about, your A/R is legimately
reduced by the amount of unapplied cash balance.

Lee Henderson
Micrin
Dallas, TX
800-448-8771
214-688-0999 tel
214-688-0998 fax


On Jul 9, 2008, at 10:45 PM, Toby Rutter wrote:

> We are out of balance on our balance sheet by $70.92. I have traced
> the problem back to an unapplied cash transaction where Vantage
> credited 3033 (Unapplied Cash) and there is a blank for the debit. In
> other words, the system did a one-sided transaction!!!!
>
> How does anyone handle correcting one-sided transactions?
>
> I have a theory since this is related to sales. I can create an "Open
> Load" Credit Memo going back to the customer's account. In theory this
> should bring the balance sheet back into balance, unless it makes the
> accounts receivable aging and GL out of balance.
>
> Please help. What would you do in this case where there is a one-sided
> transaction that was done through the sales journal? Is there another
> way or utility or the ability to do a journal entry?
>
> Thanks,
> Toby Rutter
> USA Industries, Inc.
> South Houston, TX
>
>
>



[Non-text portions of this message have been removed]