General Ledger - Recalculate Balances

Pgm: GLRECBAL – Balance Recalculation; standard Treeview path: General Ledger > Utilities > Recalculate Balances

When this procedure is run, the system will recalculate the opening and closing balances in every GL account from the start period and year specified, to the end of the current year. This procedure is mostly used during the startup of the CMiC system and when transactions are being imported.

This procedure may be run as many times as required.

Enter the company to be recalculated. The Department field can be left blank, signifying all departments. The starting year and period must be entered. Use the [Process] button to begin the recalculation.

The system will recalculate all balances starting from the year and period specified in these fields, up until the current year and period.

Recalculate Reporting Currencies Amounts – Checkbox

When checked, the reporting currencies balances will also be recalculated along with the functional company currency balance recalculations. A maximum of three reporting currencies can be defined via the Reporting Currency 1, 2, and 3 fields on the General Information tab of the Maintain Companies screen.

The GL transaction posted with this setup will record the reporting currency code, exchange rate for the reporting currency, and the reporting currency amount. During balance recalculation, when this box is checked, the system will recalculate the balances for each account where the reporting currency information exists and update the balances for reporting currencies as well in the GL Balance table.

NOTE: There is a database scheduled job as well for recalculating the GL balances for all companies at once, on a regular basis. For example, users may prefer to run the database job on a nightly or weekly basis. It must be noted that running for all companies in one job may affect the performance, and users may have to adjust their scheduling accordingly.