Standard MFG/PRO functionality allows for inter-entity balancing in the sub-modules of Accounts Payable, Accounts Receivable, Fixed Assets and Inventory. There is no analogous functionality in the general ledger.
The GL Control File setting of “Balanced Entities” set to yes requires that any transaction with multiple entities must be balanced. When a transaction is entered in standard transaction maintenance (25.13.1) or reversing transaction maintenance (25.13.3) with multiple entities, the user must manually balance the journal entry.
If you company has a shared services accounting department that books journal entries across general ledger entities, this manual balancing effort can become tedious and in-efficient. Accrual entries, prepaid entries, payroll entries, purchase card entries are examples of multi-entity entries.
Logan Consulting has developed an automated Journal Entry Upload tool to solve this general ledger inter-entity balancing issue. The tool has the following features:
· Automated Inter-Entity Balancing.
· A Microsoft Excel Input template.
· The ability to load multiple general ledger references simultaneously.
· The ability to load reversing entries and standard journal entries simultaneously.
· Error checking.
Andy Vitullo
Principal, Logan Consulting