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Friday, January 29, 2010

year-end close

Question: On year-end close


While working on year-end close

I am encountering a problem while doing ABST2 .I am founding differences for 13 accounts .I am providing the message while executing the ABST2 which found below:

Differences between assets and G/L accts in the balance carried forward

Message no. MQ 555

Diagnosis

Differences occurred in the balance carried forward when comparing asset summary records and G/L accounts.

Procedure

Using program RFEWSBAL, select the accounts for which differences occurred. To do this, proceed as follows:

1. Changeover package: Active package

Phase: ANALYZE

Origin of change: AS

Proceed

1. Analyze the accounts containing errors using note 104567.

If the document number field contains the entry "W004", this means that although a difference exists in the balance carried forward, this difference was charged off at the key date. Following local currency changeover, the system adjusts the currency differences at the key date only, but not in the balance carried forward.

Answer: Please correct me if I am wrong

Differences between FA and GL will happen when someone posts manually into the GL accounts. Check for those manual entries, if you find any entries, reverse those postings, and then check whether the assets and GL are balanced.

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