Posting Subsidiary Adjustments

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Screen Title: 

Panel Number:

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AALETR-01

Subsidiary History Maintenance

1

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Click here to magnify

This screen will appear if you use Adjustment (F14) on the maintenance screens (screen 1 or screen 2) for any subsidiary type.

Screen Overview

This screen is used to make an adjusting entry on the subsidiary ledger. If necessary, the system can also generate a journal entry to record this change.

·     For Fixed Asset and Prepaid Expense items, an adjustment made here will alter the Net Book Value on the subsidiary record.

·     For Accrued Expense items, an adjustment will alter the Accrued to Date balance on the subsidiary record. If you wish to use this accrued expense record for another period after it is paid, this screen should be used to bring the balance down to zero when this accrued expense is actually paid.

·     REMEMBER: If you change the Accrued to Date amount by using this adjustment feature, you may also wish to adjust the Total to Accrue amount on the maintenance screen.

When ready to record the adjustment, use Update (F10) to update the subsidiary ledger, create the journal entry and return to the previous screen.

IMPORTANT: The Create Journal Entry feature instructs the system to generate a J/E only; it does not actually post it to the G/L. Use Post Subsidiary J/Es to post the entry to the General Ledger.

Field Descriptions

Field Name

Description

Debit Amount
or
Credit Amount

Enter either a debit or a credit amount to be posted to the G/L account shown at the top of the screen. (The account was established when the item was created and cannot be changed here.)

Offset G/L

Enter the G/L account number to be offset during this transaction (i.e., where the funds are coming from). Click the lookup button to see a list of your credit union

s configured accounts.

Transaction Description

Enter a description to appear on the transaction history for this item.

Create Journal Entry

Place a checkmark in this field to generate a journal entry recording this change in the G/L. Remove the checkmark only if the adjustment has already been posted to the G/L manually.

·     Remember that the entry must be posted to the G/L after it is generated.

Post Date

Enter a date to which the entry should post in the G/L.

 

 

 

Link to ID: https://help.cubase.org/cubase/cubase.htm#AALETR-01.htm