EGL: Year End Closing Process Not Clearing Beginning Balance After We Changed Account Type. (Doc ID 608822.1)

Last updated on SEPTEMBER 14, 2016

Applies to:

PeopleSoft Enterprise FIN General Ledger - Version 7.5 to 9.2 [Release 7.5 to 9]
Information in this document applies to any platform.

This document was previously published as Customer Connection Solution 684903


***Checked for relevance on 12-January-2014***
***Checked for relevance on 23-June-2016***

Symptoms

Issue:  An account was misclassified as an asset instead of a revenue and processed through year end close for last year.  Now when reclassifying the account to being a revenue account type, the year end close does not pick up the beginning balance for this years closing.  What do we need to do since we re-classify the account type and what are the  suggestions on how to get the revenue accounts beginning balance to close to retained earnings?

An additional question has been asked regarding what are system wide impacts of changing account type of an existing account?

Cause

Sign In with your My Oracle Support account

Don't have a My Oracle Support account? Click to get started

My Oracle Support provides customers with access to over a
Million Knowledge Articles and hundreds of Community platforms