Nominal Ledger Help
The Nominal Ledger Rectify command is used to change journal details after they have been posted. There may be occasions when a mistake has been made in a journal that is only noticed after it has been posted. For example, the wrong account or cost centre may have been used or a journal may have been posted to the wrong period. You can modify the account or cost centre on a journal line. If you use the Advanced Nominal Ledger, you can modify the additional dimensions, for example the project or department. You can also undo an entire journal posting and, if required, post it again to another period.
When an individual journal line is rectified, two new journal lines are posted using the same date and period as the original journal line. The first new journal line reverses the details on the original journal line using the same account, cost centre, project or department. The second new journal line is posted using the new account, cost centre, project or department. The original journal line is not changed. It remains on file in it's original state so that a complete audit trail of journal details is retained.
Example 1 (Rectified Journal Line) ...
When an entire journal is rectified, a new journal is posted to the same period using reversed values. If you choose to post the journal again, the entire journal is posted again to a different period using the original account, cost centre, project, department and values. The original journal is not removed. It remains on file so that a complete audit trail of journals is retained.
Example 2 (Rectified Journal) ...
You can rectify these journals:
If Open Period Accounting is used and the status of the period in the Financial Calendar that the journal was posted to is 'Open', you can rectify journals posted in the Nominal Ledger to the current financial year or journals posted in the Nominal Ledger to a future financial year.
If Open Period Accounting is not used, you can rectify journals posted in the Nominal Ledger to the current financial year only
You can modify one journal at a time; you cannot modify batches of journals.
These journals can't be rectified:
Journals posted to periods that have since been closed or blocked.
Journals that include VAT. These journals have the VAT Analysis box selected on the journal's header form.
Journals posted in other applications, like the Sales Ledger or Purchase Ledger, and then transferred to the Nominal Ledger.
'Brought forward' journals that were created by the Period End for Balance Forward type accounts or the Year End processes for Balance Sheet type accounts. Brought forward journals consolidate these accounts' individual transactions into one rolled up transaction.
You can view journal details on the Nominal Rectify form before selecting the journal you want to modify.
Use the Criteria tab to enter the criteria to choose the journal you want to rectify. You do not need to enter details in all the boxes. For example, if you know the journal number you want to rectify, enter the number in the Journal box. If you do not know the journal number but do know who posted it, entered the person's ID in the Input By box.
Box |
Description |
|---|---|
Year/Period |
The financial year and period that the journal was posted to. If Open Period Accounting is used, you can select future financial years that have already been created in the Financial Calendar. |
Entered |
The date the date was posted. |
Journal |
The journal's unique number. |
Input By |
The user ID for the person who posted the original journal. |
This tab displays a list of journals that were selected on the Criteria tab.
Box |
Description |
|---|---|
Journal No. |
The number used when the journal was posted to the Nominal Ledger. |
Date |
The date the journal was posted to the Nominal Ledger. |
Year |
The financial year that the journal was posted to. This may not be the calendar year if for example a financial year stretches over two calendar years. It is the notional year entered on the Set Options form in the Nominal Ledger. |
Period |
The financial period that the journal was posted to. |
Input By |
The user ID for the person who posted the original journal. |
Status |
A journal's status can be one of the following:
|
Original Jnl |
This is displayed only if the journal was created because another journal was rectified. It is the number for the journal that was rectified. |
This tab displays all the details for the journal you have selected on the Criteria tab.
You can use the Action menu to:
Rectify an individual line on a journal. You can modify the account or cost centre on one or more journal lines. If you use the Advanced Nominal Ledger, you can also modify the additional dimensions on one or more journal lines, for example the project or department.This menu item is available if the Details tab is selected.
Rectify an entire journal. You can undo an entire journal posting and, if required, post it again to another period.
The menu items are disabled if the status of the period in the Financial Calendar that the journal was posted is not set to Open. You can open the period if necessary on the Financial Calendar form.