Revaluation Issues

[hahsia]

Hi,

I have yet to do my year-end closing for 2005.
Currently running AR/AP Revaluation.
Why do i get this message "Incorrect Procedure. Cannot Post to future Year" when attemptng to post those
Revaluation Batch in GL?

Could somebody please help?
Thanx In Advance.

 

[jayconverse]

Because you haven't closed 2005!

Jay Converse
IT Director
Systemlink, Inc.

 

[hahsia]

Hi,

Does it mean that i can only post these revaluation batches after the year end?

There's another thing that i realised, the entries in my error batch were reversed when compared to the original revaluation batch. Is this correct?

Or what should the procedure be for the revaluation process at the end of the financial year?

Please kindly advice.
Thanx in Advance.

 

[ettienne]

Revaluations always create 2 sets of entries, the first set is for the revaluations, the second set reverses the first set in the next period.
What you are seeing is the second set of reversing entries, and because this was done at year end, the first set of entries went to 2005-12 and the second set went to 2006-01.
You can post the second set of entries after you have closed 2005.

 

[zemp]

Did you create the new year in the GL?

GL periodic processing - create new year

zemp