Over the years we have had entries posted into our general ledger which in retrospect could have been booked in a “cleaner” manner (i.e. fully utilizing dimension values). How is the cleanest way to get in and adjust the dimension values once an entry has been posted? What we need to be able to do is pull inception to date reports that are filtered by dimension, fund codes, and portfolio codes.
Any help is appreciated!
Mark
There are some downloads on the forums that will allow you to change the dimensions on your posted entries. Search for Dimension Correction Tool. I think there are two or three now, not sure which one is best.
Perfect! Now if/when there happen to be old journal entries that have been netted together when in reality they should have been grossed out is there another tool that will allow us to modify existing journal entry amounts?
You cannot and should not modify posted information. Dimensions are about the only exception, and only when you have a tool to do it for you that has been fully tested.
If you need to change the balances of accounts you need to post entries for the negative of the amount you want to cancel out. In other words, there is no direct modification of a posted entry. The correction is always done via a new entry that reverses what was previously done.
Considering the amount of data that we have that needs to be “cleaned” up is there a good tool that will allow an export of all the journal entries so that they can be grossed out and then re booked into a “new” company? Or is there a way to just delete a journal entry that was inadvertently posted? We often time post journal entries that are hundreds of lines and reversing them out and rebooking them makes everything much, much messier.
There’s not an out of the box or add-on solution for it. I would talk with your NAV Partner. They can develop a solution for you that can help with what you want to do.
Is there a list of NAV Partners by state or region of the United States? And I was hoping of an add-on that would allow us to easily gross up and clean up our historical journal entries. However I am not sure it will be cost effective to completely export and retool every journal entry. Do you know if it would be substantially less “work” to have our NAV partner make it so that we can just delete the netted entries and then we could rebook them as opposed to having him work on exporting ALL our historical data?
You can use that link to search for NAV Partners.