Open Forum

Year-End Close Process Creates BBF Entry for All LTD Activity for an Account Instead of for Current Account Balance

  • 1.  Year-End Close Process Creates BBF Entry for All LTD Activity for an Account Instead of for Current Account Balance

    TOP CONTRIBUTOR
    Posted 7 days ago
    We have a one particular account that has a $0 balance, hasn't had activity in 7 years.  However, during the fiscal year-end close process, it creates an offsetting BBF distribution for all LTD debit activity & then another distribution for all LTD credit activity.  The end result is always $0 but it's strange and ugly.  Has anyone ever seen this or know which table should maybe be looked at in order to clean it up?

    Notice $0 balance and no activity

    For the last fiscal year-end close, & the last 6 fiscal closes, there have been adjustments that look like this.


    ------------------------------
    Kyle Malone, CPA
    GP Admin - CGB Enterprises, Inc.
    Lead Consultant/Blogger - http://ALaCarteGP.com
    Chapter Leader - Louisiana (New Orleans)
    ------------------------------


If you've found this thread useful, dive deeper into User Group community content by role