If a user needs to reclassfy the expense account of bill, but the original posting period is already closed, then it’s currently not possible to reclassify that in the next open posting period with GL506000.
The field posting period is greyed out. The posting date can be changed, it does not lead to a newer posting period though.
Is this by design? How can a user correct this
without reopening the previous posting period (due to already filed reportings to group companies)?
and with keeping up the transparency of reports with / without reclassified transactions?
Best answer by Laura02
Hello,
Reclassifying a Bill is simply a GL entry to move the expense from one account to another.
I understand you want to reclassify the expense in a different period from the Post Period of the Bill. You have found that Reclassify Bill is limited to reclassifying bills in the same Post Period as the Bill.
Options:
To reclassify the Bill in the current period, enter a Journal Transaction to credit the “wrong expense account” and debit the correct expense account. Include detailed descriptions and notes identifying your entry as a Prior Period Correction, including the AP Bill Reference Number on the descriptions and Notes. Include a link to the related AP Bill in the notes. Then add Notes to the original AP Bill with a link to the correcting Journal Transaction.
Anyone in Financial Supervisors Role may post to a closed prior period without re-opening the period. A Financial Supervisor may reclassify the bill to the prior period using either AP Bill Reclassification features or using a Journal transaction to the Post Period of the Bill. Both of these options in #2 will change reporting amounts that were already filed to group companies.
Reclassifying a Bill is simply a GL entry to move the expense from one account to another.
I understand you want to reclassify the expense in a different period from the Post Period of the Bill. You have found that Reclassify Bill is limited to reclassifying bills in the same Post Period as the Bill.
Options:
To reclassify the Bill in the current period, enter a Journal Transaction to credit the “wrong expense account” and debit the correct expense account. Include detailed descriptions and notes identifying your entry as a Prior Period Correction, including the AP Bill Reference Number on the descriptions and Notes. Include a link to the related AP Bill in the notes. Then add Notes to the original AP Bill with a link to the correcting Journal Transaction.
Anyone in Financial Supervisors Role may post to a closed prior period without re-opening the period. A Financial Supervisor may reclassify the bill to the prior period using either AP Bill Reclassification features or using a Journal transaction to the Post Period of the Bill. Both of these options in #2 will change reporting amounts that were already filed to group companies.
I’ve created this idea here as it makes sense that you should be able to move a reclassification to a current period as there may be a variety of reasons why you do not want to change a prior period.
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