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FCCS Opening balances not changing YTD - Closing Balance remains the Same month to month

edited Apr 17, 2024 2:18PM in Financial Consolidation and Close 3 comments

Summary:

While Loading Trial Balances in Data Management, the Opening Balance is not Changing YTD. It continues to Carry forward December of the Prior Year Ending Balance for each Period in the new Year.

For Example:

Dec22 Ending Balance is $2600

Jan23 Activity is $150, My Jan23 Closing Balance is Showing $2750 which is correct.

Feb23 Activity is $100, My FEB23 Closing Balance is showing $ 2750 but should be $2850

March23 Activity is $200, My March23 Closing Balance is Showing $2750 but should be $3050

April23 Activity is $550, My April23 Closing Balance is Showing $2750 but should be $3600

What needs to be done to have the correct closing Balances to calculate correctly? Why is the Jan23 Closing Balance continues to show throughout the year? Please Assist with a Resolution.

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