Set GAAP Initial Amounts

Owned by Former user (Deleted)
Nov 04, 2018
3 min read

Update GAAP Initial Amounts

 

In order to set your GAAP Initial amounts you'll need to turn on the Mass Change Service.  This functionality requires a specific permission, so you may need to contact your ITC if you are unable to install this feature.  

 

To install the Mass Change option, navigate to System/Modules and install the Mass Change Service by clicking on the "+" sign to the left of the module name.  Once the module is installed, make sure to click on the green link at the top of the grid to refresh the page.

 

Once the Mass Change Service has been installed, navigate to the Account UI and select the Expenditure tab.  You'll need to filter the grid to only the accounts you want to update.  Once your grid is filtered you'll click on the Mass Change button at the top left of the grid.  This will open a dialogue at the bottom of the screen.  

 

Click the drop down under "Load Definition" and select "Set GAAP Initial to Current FTD Expendable (SSDT)".

 

Next you'll select "Execution" under the Choose Mode

 

Once you do the Submit Mass Change button will appear. 

 

 

Click on this button to submit the mass change operation.  By doing so the results in your grid will be updated.  There is not a way to undo this action, so be sure your grid is properly filtered to the accounts you wish to set your GAAP Initial amounts.

 

Please Note

You'll need to process the mass change twice, once for Expenditures and once for Revenues.  Just navigate to the desired UI and follow the above instructions.

 

WHAT'S HAPPENING?

 

What happens when I process this mass change definition?  The system is posting GAAP Adjustment transactions to make the GAAP Initial amounts equal the current expendable/receivable amounts on that account.  For example, if the expendable amount is $1000 and the GAAP initial amount is $0, a $1000 GAAP Adjustment transaction is posted.  Likewise, if the expendable amount is $5000 and the GAAP initial amount is $1000, a $4000 GAAP Adjustment transaction is posted.

Please note, the date associated with the GAAP Adjustment transaction will be the first day of the current posting period, regardless of when the mass change definition is executed.