End Fiscal GL Adj

   We are 405 CD & have a problem perhaps someone can suggest a solution.

   I'm not an accounting whiz but I've recently had several BPCS accounting
   mysteries to look into.

   New year's weekend I did the EOM EOY, dump in physical inventory tags,
   restructured costs, we had some downage ... it took me approx 35 hours. 
   It seemed to go fairly smoothly.  Most of the time is not strictly BPCS,
   but the extra reports needed.

   GL ending balance 2006 agreed with opening balance 2007 Jan ... examples
   $ 500,279.40 Cash in Bank
   $ 432,823.95 Receivables from Exports (non-domestic sales)
   $ 726,872.57 All Payables

   Monday morning after, the boss had some final adjustments ... for example
   there's an outfit we both export to and import from.  He subtracts what we
   owe them vs. what they owe us, and makes an adjustment for the
   difference.  We also muck with A/R & A/P detail files to remove a bunch of
   invoices that have the same total both places.  i ask "Can't we concoct a
   dummy credit & apply both places?" and am told, "No, this is the way it
   gotta be done."  When done with the final adjustments, ending balance 2006
   agreed with what he wanted ... those example accounts now
   $ 330,191.29 Cash in Bank
   $ 336,682.72 Receivables from Exports
   $ 490,643.13 all Payables

   The differences don't exactly add up because there's other accounts also
   getting the benefit of these adjustments.

   However Opening Balance 2007 Jan still agrees with story from New Year's
   weekend.  It is not unusual for final adjustments for a month to be keyed
   in Monday after an end fiscal, so I says "I would not be surprised if we
   got other  ending balance for one fiscal not agreeing with beginning
   balance for next fiscal." but the boss says "Let's figure out how to get
   this fixed, and not get messed up like this again, moving forwards, before
   looking for more trouble." or words to that effect, and I agree with these
   sentiments since I have a mountain of known problems to resolve.

   Translation ... I gotta figure out how to fix this ... Now I know I can do
   so using DFU or other "outside the system" but I try to avoid that
   solution approach like the plague when it comes to Gen Led.  The boss's
   boss and auditors most certainly would not tolerate that.

   I am tentatively planning on running another Preliminary end year this
   weekend, for the sole purpose of seeing if it does anything to the opening
   balances known to be wrong.

   We have not yet closed 2006 year, only done preliminaries.  We are not yet
   subject to SOX, but our auditors are getting tighter on what controls they
   expect us to have.

   -
   Al Macintyre
   http://en.wikipedia.org/wiki/User:AlMac
   http://www.ryze.com/go/Al9Mac
   BPCS/400 Computer Janitor ... see
   http://radio.weblogs.com/0107846/stories/2002/11/08/bpcsDocSources.html