Business Processes, Systems & Controls


Exercise 3 (Journal Entries) Update

The following changes are in effect for Exercise 3 (Journal Entries)

Retained Earnings Gap – work-around path:
Most of you experienced the issue where account 330010 (Retained Earnings – Direct Posting) was not available to for posting in SAP.  The allowed workaround is to change the following Beginning balance values:

220210  Production Machinery, …          Debit balance of $ 296,991
330010  Retained Earnings – Direct …    Credit balance of $  0  (you don not have to enter)

Note the revised Debit and Credit values are $1,469,451.

Retained Earnings Gap – Extra Credit: The root cause of this issue is missing General Ledger (G/L) master date in the GB5 system.  I have fixed this error in the following companies.  For and extra credit on this assignment, enter the beginning balance as originally specified.   Notify me by e-mail if you need this fix applied to additional companies.

US03; US04; US05; US06; US09; US10; US18; US20; US22; US24;

Due Date: Because of these issues and other reasons I’ve extended the deadline for turning in this exercise until Monday March 21 at midnight.  If other extenuating circumstances may cause your team to miss this deadline please notify me by e-mail.

Additional Problems, Questions: Don’t hesitate to send me an email if you encounter additional issues or have follow-up questions this week.