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Adding Adjustments instead of backing them out? — Cloud Customer Connect
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Adding Adjustments instead of backing them out?

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edited Feb 26, 2020 12:20PM in Account Reconciliation 4 comments

Summary

Backing out adjustments results in sign logic being the opposite to the accounting/financial rules

Content

Hi Tim & everyone,

I have raised this question some time ago during the implementation and now that the Power Users have become a bit more mature in ARCS, they have indicated the same to me.

Adjustments are created to correct a General Ledger or a sub-system balance, the correction could be for either an existing incorrect journal or for a missing one or could be a combination of both cases.

When accountants create an adjustment, they apply the financial/accounting logic to decide the sign of the adjustment. 

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