Forum Discussion

jstasinos's avatar
jstasinos
New Contributor II
5 days ago

December Journal Entry

I am trying to record an additional Depr Exp in December 2024.  

Db Depr Exp (P&L)

Cr AD Machine &Equip. (BS)

However, when I roll into January 2025, the effect of the December entry has been calculated into the BOP Retained Earnings, but my balance sheet does not balance.  I can tell the AD Machine & Equip account does not reflect the additional amount recorded in the journal entry.  I need to enter this JE into January of the following year, am I supposed to enter this as an unbalanced journal entry, hitting only AD Machine & Equip?

 

Consolidation
  • Henning's avatar
    Henning
    Valued Contributor II
    5 days ago

    Hi, I think this question is best directed to your implementation partner. This is highly dependent on the data model, the setup and the roll-forward logic, which we do not have access to in this forum. Maybe a documentation exists that describes the journal roll-forward process and where journals need to be posted to be included?

    I recommend not just posting the journal again in Jan 2025, just to do that as a workaround. I would try to explore the system first and see why the data does not roll forward and then post the journal to the correct intersection, or adjust the roll-forward logic if needed. This seems like the more sustainable solution in the long run rather than possibly posting journals based on trial and error.