Managing the Accounts in Sage X3 is the simple yet challenging task since X3 has provided most dynamic Account handling mechanism which includes customizable Automatic journal and Line level condition and formula. There may be a case in which a wrong account got picked due to the configuration error or a suspend account gets picked if the account is not defined in that setup screen to which Automatic journal is pointed.
Sage X3 provides a feature of Control account transfer which is used to replace the incorrect account with the correct control account. We can use this function to modify a source control account code with a destination control account code in the Journal accounting lines.
Below are the most important points to be considered before using this functionality:
- This control is in effect only if the Chart of Accounts is associated with at least one consolidated ledger for the company.
- This function is only launched for open financial years and involves all the postings with the exception of the RAN.
- The control account transfer is made for a specific business partner. The process cannot be run for all the business partners in the source control account.
A selection screen is used to define the business partner (BP) line characteristics that the process must modify. Below are the criteria fields which are provided
Company, Site, Matched entries, the journal type, The journal, The user, Date range
Matched entries: The entries that are already matched can be included (by specifying the matching type: partial, full or both). In this case, the matching codes are also fused with the exception of the matching groups that mount two financial years that remain in the source control account (forward postings included).
Flow code coming from the account if the flow code management has been chosen for the account.
Flow initialization: The initialization rule only applies to accounts with Optional or Mandatory flow management selected and only for the first ledger defined in the journal entry transaction whose consolidation management is selected.
Source control account: User must enter the account code which is a incorrect or a suspended account.
Target control account: User must enter the account code which is a correct account which has to be applied in journal.
BP: User can only enter a Business partner with one of the following characteristics: Customer, Supplier, or Miscellaneous BP.
The Partner is the partner of original record if an account class is set to Yes, and it is empty if the account class is set to No.
Path: Financials > Utilities > Miscellaneous > Control account transfer
Control Account transfer enables you to correct your journal lines with the correct account if a wrong account got picked due to the configuration error or a suspend account gets picked if the account is not defined in that setup screen to which Automatic journal is pointed.
Hope this blog helps you correcting your journal lines with correct account and manages your accounts more efficiently!
