GL Account on Fund out of Balance from Single Journal Entry
- 07 Apr 2023
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GL Account on Fund out of Balance from Single Journal Entry
- Updated on 07 Apr 2023
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Fund is out of balance on one GL account where a single journal entry was posted with no offset.
Steps To Duplicate:
1. Go to General Ledger to the fund and account in question
2. See a journal entry for a credit with no offset debit entry.
3. Note that the fund\GL account is out of balance by that amount.
2. See a journal entry for a credit with no offset debit entry.
3. Note that the fund\GL account is out of balance by that amount.
Answer:
Process for fixing an of balance fund in FIMS.
You can enter an offsetting, one-sided, out of balance journal entry to fix the out of balance fund.
First you have to change a system set up item. Go to Tools > System Utilities > System Options > GL.
Then, for "Warning for Unbalanced Funds" change NO to YES.
(Reference the link below "System Options – General Ledger")
This allows the one sided entry to be only a warning rather than an error.
You can post your one sided entry to fix the out of balance.
Then go back into the setting and change the YES back to No.
*As always, this should be done in the Test and Learn database first to verify results.
System Options – General Ledger
You can enter an offsetting, one-sided, out of balance journal entry to fix the out of balance fund.
First you have to change a system set up item. Go to Tools > System Utilities > System Options > GL.
Then, for "Warning for Unbalanced Funds" change NO to YES.
(Reference the link below "System Options – General Ledger")
This allows the one sided entry to be only a warning rather than an error.
You can post your one sided entry to fix the out of balance.
Then go back into the setting and change the YES back to No.
*As always, this should be done in the Test and Learn database first to verify results.
System Options – General Ledger
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