Let’s talk about Journals Manager. Would love to hear advice/best practices/tips on using the Journals Manager. We use it monthly in Prophix consolidating 12 divisions and it works great with the exception of it’s handling of journal entries that impact the balance sheet. For example if we make a journal entry hitting a balance sheet account for $100 in June, in July that $100 is gone. There was no journal entry to remove it or prior entry that was reversing.
Our current work around is to do an info flex to move prior month journal entry adjustments to the current month for the balance sheet accounts and add those to any other activity in that account for the month. Please tell me someone has a better solution.