Metadata is not period specific, so if you change the metadata settings of an account, it will most certainly impact any previous periods. If you change metadata within your application, the impact status will change to "OK SC" - meaning their was a system change. If you don't run a consolidation for any of the previous periods, the values will not be affected. Balances only carry forward during consolidation if you have a specific rule suggesting to do so.
I don't suggest changing metadata for accounts that have been used in previous periods. What you can do is create new accounts, maybe even create an alternate hierarchy, and start loading your data to these accounts going forward.
I agree with SMY2010… I would suggest to change the current elimination rules in order to support a more dynamic approach that will be specific to the period. You must have in mind that all the rules are 100% customisable to your needs.
Why doesn't their data support their elimination process. They should be loading non eliminating amounts to [ICP None] and eliminating amounts to their respective ICP. Then they should utilize the ICP matching reports as well as checking the plug accounts at every level of consolidation to ensure they have reconciled their data.
Thanks for your answer.It was really helpful.
We tested the scenario in development environment.
The observation is that "few of the P&L accounts" are bringing the old balances to the current period even if there is no rule written to carry forward those balances to next period.
What could be the reason?
Check the metadata to see if the account types are set to Asset or Liability. These balances sometimes carry forward. Also, are you choosing your view as YTD or Periodic? Is it an OrgByPeriod application?
Also, if any of the responses were helpful, please mark it as so. Thanks.