Reclassifying General Ledger Entries in Acumatica:
The Reclassify Transactions Process in the Financial Module of Acumatica allows users to correct, reclass or edit a General Ledger transaction that has been released and posted. Users can reclassify a General Ledger transition if an amount has been posted to the wrong account number, subaccount or branch on a transaction, and can edit the transaction date or transaction description.
The Reclassify Transaction form can be opened from the Account Details form, the Journal Transactions form or the Reclassify Transactions process.
Account Detail Form:
Users have the option to reclassify one transaction, multiple transaction or all transactions.
After choosing the transactions, the Reclassify Transaction form opens. Here the user can make the necessary changes or edits using the following fields:
- To Branch
- To Account
- To Subaccount
- New Trans Date
- New Transaction Description
For this example, we will be reclassifying the Branch from PRODWHOLE to PRODRETAIL by changing the To Branch and then choosing the Process action.
Acumatica will generate a Reclassification batch that should be reviewed and then released if correct. The Reclassification Batch will show the Original Batch Number.
The original transaction will show the Reclass Batch Number:
Journal Transactions Form:
Open the Journal Transaction form and select the batch that needs to be reclassed/corrected. On the forms toolbar click Actions>Reclassify. The steps are the same as above.
Reclassify Transactions Process:
Using the Reclassify Transaction Process (GL506000), users initiate the reclassifying process by using the LOAD menu item. On the form toolbar choose the LOAD option. This will open the Load Transaction Dialog Box. Using this dialog box users can specify the selection criteria to load the required transactions for reclassification.
Once the user clicks the LOAD tab on the Load Transactions dialog window transactions meeting the criteria will be populated.
From here users can manually make changes to the To Branch, To Account, New Tran Date or New Transaction Description or they can use the REPLACE option on the form toolbar. Using the REPLACE option will open the Find and Replace dialog window. Users can fill in the Find and Replace With sections and the all transaction matching the find criteria will be update with the Replace With criteria.
Once the changes are verified choose the PROCESS action on the form toolbar to confirm the changes.
** For all of these options if the Automatically Release Reclassification Batches setting on the General Ledger Preference form (GL102000) is not checked the reclassified transactions will need to be released.
The following entries cannot be reclassified:
- An entry to a control account
- GL transactions generated in the General Ledger module when consolidation data has been imported on the Import Consolidation Data form
- GL transactions generated in the General Ledger module by running an allocation process
- Transactions generated in the Currency Management module
- If Project Accounting feature is enabled, transactions related to any project cannot be reclassified. You can reclassify the GL transaction in which the non-project code is specified.