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Summary 0019829: Fiscal Year End Close Generates Incorrect Accounting
Revision 2012-02-22 18:25 by vmromanos
Steps To Reproduce Log on the above environment.
run the balance sheet with the following attributes:
acct schema: foreverhealth direct Canada (CAD)
Organization : foreverhealth distribution ltd.
balance sheet, 2011 rference 2010, only accounts with nonzero bal.s

Note the balances, subtotals and totals for the Equity section of the B/S.

Then, for 2011, close the fiscal year and "create reg fact acct". when the process completes (if it completes) then

rerun the balance sheet and note that the equity section is different - the current year earnings has doubled as a result of running the process this is incorrect.
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Please note: there are several bugs related to this critical prcess for , red account. They need to close the FY but 1) sometimes the close process does not complete 2) it should not have balance sheet closing entries, only income statement ones (meaning no reversal of A/r, etc at end of year as these are "permanenet accounts" while Revenues are "temporary accounts" - and not just in the USA and Canada) and 3) there are minor usability bugs. these will be separately listed.
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Revision 2012-02-22 18:25 by vmromanos
Description This problem noted in the testing environment located at:

When you attempt to close the Fiscal Year, the Current Year Earnings account balance is duplicated in the balance sheet.
Revision 2012-02-22 18:24 by vmromanos
Steps To Reproduce Log on the above environment.
run the balance sheet with the following attributes:
acct schema: foreverhealth direct Canada (CAD)
Organization : foreverhealth distribution ltd.
balance sheet, 2011 rference 2010, only accounts with nonzero bal.s

Note the balances, subtotals and totals for the Equity section of the B/S.

Then, for 2011, close the fiscal year and "create reg fact acct". when the process completes (if it completes) then

rerun the balance sheet and note that the equity section is different - the current year earnings has doubled as a result of running the process this is incorrect.
------------------------------------------------------------------------
Please note: there are several bugs related to this critical prcess for GFR, red account. They need to close the FY but 1) sometimes the close process does not complete 2) it should not have balance sheet closing entries, only income statement ones (meaning no reversal of A/r, etc at end of year as these are "permanenet accounts" while Revenues are "temporary accounts" - and not just in the USA and Canada) and 3) there are minor usability bugs. these will be separately listed.
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Revision 2012-02-22 18:24 by vmromanos
Description This problem noted in the GFR testing environment located at:

When you attempt to close the Fiscal Year, the Current Year Earnings account balance is duplicated in the balance sheet.
Revision 2012-02-21 18:05 by vmromanos
Description This problem noted in the GFR testing environment located at:http://65.61.203.189/openbravo/ [^] login tds/tdstds

When you attempt to close the Fiscal Year, the Current Year Earnings account balance is duplicated in the balance sheet.


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