Reversing Journal from Payables for Open Balances.
Dear All,
I have an issue with Open Invoices upload and its reversal in GL.
Here is my scenario :-
We had cut-over date as at 30 April 2012.
At this date we have loaded the Trial Balance in General Ledger. We have also loaded open Invoices in Payables. These invoices have been transferred to General Ledger. The journals generated from Oracle Payables, I reversed them by unfreezing the Payable Journal Source in the Journal Source window in General Ledger.
As per some of my colleague, reversing journals in this way, might affect the AP-GL Reconciliation.
Can anyone please advise.
My question is : is it the correct way of doing the reversal
I have an issue with Open Invoices upload and its reversal in GL.
Here is my scenario :-
We had cut-over date as at 30 April 2012.
At this date we have loaded the Trial Balance in General Ledger. We have also loaded open Invoices in Payables. These invoices have been transferred to General Ledger. The journals generated from Oracle Payables, I reversed them by unfreezing the Payable Journal Source in the Journal Source window in General Ledger.
As per some of my colleague, reversing journals in this way, might affect the AP-GL Reconciliation.
Can anyone please advise.
My question is : is it the correct way of doing the reversal
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