Adjustment and elimination transactions

Adjustment transactions and elimination transactions are entered for specific financial statements. To have the same corrections apply to all financial statements, it is easier to create a journal entry in the General Ledger for that specific period and reverse it on the first day of the next period. To accomplish this, you can do either of the following:

• Use the Recurring Journals (tfgld0140m000) session.
• Create a financial transaction using the Transactions (tfgld1101m000) session or the Transaction Entry (tfgld1140m000) session, and then reverse the transaction using the Reverse Entry (tfgld1295m000) session.

1. From the LN menu, start the Adjustment/Elimination Transactions (tffst2100m000) session.
2. Click New Group.
3. In the Statement Type field, specify Financial Statement or Consolidated Statement as required.
4. Click New.
5. Select the statement and statement column for which you want to create the transactions.
6. Click Save, and then open the line. The Adjustment/Elimination Transaction Details (tffst2101m000) session is started.

7. Click New to specify the statement lines.

   If you use annexures in your statement, make sure that the combination of ledger account and statement account matches.

8. When you are done, close the details session.
9. Click Post Adjustment/Elimination Transactions to Statement.