In IFM the opening balances will not recalculate. If you want to have 2007 adjustments carried forward to 2008 opening balances, I suggest two options.
1. After making the 2007 adjustments, create a copy to also post to your opening period, replacing any Profit and Loss accounts with your retained earnings account that your P & L flows to.
2. If there are many accounts to change, after posting the adjustments, you could reverse the prior opening balance entry and create a new opening balance entry using the same process that was used to for the first opening balance entry (the normal balance forward entry creation from the menu).
Rich McCracken
________________________________________
From: mapics-l-bounces@xxxxxxxxxxxx [mapics-l-bounces@xxxxxxxxxxxx] On Behalf Of Diven, Julie [Julie.Diven@xxxxxxxxx]
Sent: Monday, November 17, 2008 2:07 PM
To: mapics-l@xxxxxxxxxxxx
Subject: [MAPICS-L] IFM R5
We need to make adjusting entries in G/L for several accounts for last
year (2007). Does anyone know what steps we need to take and if the
opening balances for 2008 for these accounts will automatically
recalculate?
THANKS!!
Julie Diven
IT Manager
Awrey Bakeries, LLC
734-513-9634
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