raghuk2 (User)
Senior Boarder
Posts: 65
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Data Migration For closed Period in GL 14 Years, 4 Months ago
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Hello All,
In GL, How can I post journals from Legacy system and those journals in closed period?
Thanks, Raghu.K
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Charlie (User)
Gold Boarder
Posts: 284
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Re:Data Migration For closed Period in GL 14 Years, 4 Months ago
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Hi,
Are you talking about a TEST system or a live PRODUCTION system ?
If its just a TEST system, the simply open the closed period and POST.
If its a PRODUCTION system, you need to check with the ACCOUNTING group/manager so he can assess the situation of opening, posting and closing the period in question.
Note, if you do open, post the journals, you might have to run a number of month-end processes (Reval, Trans, Consol etc...) and on top of it all, a number of reports need to be run.
IMO....
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raghuk2 (User)
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Posts: 65
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Re:Data Migration For closed Period in GL 14 Years, 4 Months ago
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Hi, Thanks for the information.
Right now it's in TEST system and it'll move into production. I have 5yr worth of closed period journal,
So do I need to open all the five year period to upload the journals?
Thanks, Rap
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Charlie (User)
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Posts: 284
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Re:Data Migration For closed Period in GL 14 Years, 4 Months ago
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If all you care about is the bottom-line, regarding balances being updated for the latest open period, then you can simply create 1 large journal and import->post this one journal.
Otherwise, I'm pretty sure, you will have to open each period and import->post these journals to the correct period.
Once, all the 5 years are done, you will most likely have to run REVAL,TRANSL for each period.
NOTE : you need to make sure you have currency rates defined for these 5 years worth of journals, otherwise you won't be able to run REVAL & TRANSLATION.
That's just my opinion on how you "could" handle the situation.
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Re:Data Migration For closed Period in GL 14 Years, 4 Months ago
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Raghu,
Why would you bring in historical data into a live production system?
Is this a merger of two companies?
Then ideally you should create a separate ledger and move the data for both the companies into this new ledger.
If you really have to bring in the data into closed periods then you have two options:
1- Open periods, import journals, close periods (This will raise auditing related concerns)
2- You can simply bring in ending balances of 5 years activity into an open period of your production system. You can create one journal in GL INTERFACE table representing ending balances of last 5 years of activity.
I hope that helps.
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