EAR 9.2: AR Account Is Not Balanced by Monetary Amount When Matching Debit and Credit in Maintenance Worksheet for India GST Applicable Business Unit and Both Items Are Created in Billing.
(Doc ID 2717222.1)
Last updated on MARCH 21, 2022
Applies to:PeopleSoft Enterprise FIN Receivables - Version 9.2 to 9.2 [Release 9]
PeopleSoft Enterprise SCM Billing - Version 9.2 to 9.2 [Release 9]
Information in this document applies to any platform.
AR account is not balanced by a monetary amount (ITEM_DST) when matching debit and credit in the maintenance worksheet.
AR account should be balanced in monetary as well as the foreign amount.
Base Currency is in INR. AR account XYZ should sum up to zero in INR just like foreign amount in USD.
Out of balance in INR in AR account is creating financial impact and showing in customer Aging but in reality, nothing is pending from customer.
1. Create USD Invoice with INR base currency having an exchange rate, say for eg. 77.00 from Standard Billing.
2. Run tax engine, run finalize & print process, run Currency Conversion Process.
3. Go and update different market rate for USD/INR, exchange rate 77.50.
3. Go to Adjust Entire Bill and create a credit bill.
4. Send both bills to AR and GL.
5. Post debit and credit items in AR.
6: Create a maintenance worksheet and match debit and credit item post worksheet.
7: Review ITEM_DST the AR account is not balanced for monetary amount though real gain and loss are created and worksheet is posted with balanced accounting entries.
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