GL04E - General Ledger Transaction Edit

GL04E – General Ledger Transaction Edit

 What do you know about GL04E?

• Do you know that it’s a powerful tool with a multitude of filters and options to search, review and edit transactions for JIB, Land Billing, General Ledger, etc.?
• Do you know that you can edit most everything? Most elements of any transaction in open General Ledger can be edited.

What you cannot edit – the dollars. If the dollar amount is wrong it’s a pretty sure bet that you’ve entered a wrong dollar amount in the source transaction. A perfect example: like an invoice in AP03 – Accounts Payables Transaction Entry. This type of entry takes a reversing entry of some sort. Not only does it affect the general ledger, but also affects a subsidiary ledger - like AP05 Vendor History – and needs a reversing entry to correct the subsidiary ledger as well as the general ledger. The vendor level payable amount is wrong and so is the general ledger. Of course, you wouldn’t want to pay an incorrect amount to a vendor!  

Are you utilizing the many available options in GL04E?

The GL04E main screen presentation is a mirror of the standard GL04– Transaction Inquiry with the same filtering attributes, designed to trim the search, thus making it faster and easier to find and edit specific transactions. With one big addition – the Edit Entries button. We’ll talk more about that in a bit.

‍

Get me started

Search for transactions to edit. Simply enter criteria into the proper filters.

For example: a distribution entry made to an incorrect well or category in AP03 – Accounts Payable Transaction Entry can be edited in GL04E. Use as many filters as needed - accounting period, button(AP03), audit number, the well and/or category, etc. - to isolate the mis-keyed entry/entries.

The most common use for GL04E is to correct coding errors for Joint Interest Billing/Land Billing. 

If the transaction has not yet gone through a billing cycle, rather than making reversing/correcting journal entries that muddy up the general ledger and the billing detail, GL04E allows the ability to edit transactions booked to an incorrect well/category or lease/DOI/category.

We didn’t leave out general administrative type general ledger account entries. Those transactions can be edited as well.

Tips for filters

Phases - extract and edit all transactions for a well within a category phase. Example - the 200 completion categories need to be changed to be 400recompletion categories.

Well Groups (another good case for implementing Well Groups) – extract all costs booked to the unit and change to individual wells within the unit. 

Yellow Book – review the transactions BEFORE you start editing. Set your filters and use the Yellow Book (View Report) icon to display a list in SSI View for transactions found with your specific filters.

Review as needed, exit SSI View and you’re right back in your GL04E. Tweak filters if necessary. 

Ok…now how do I edit?

Select Edit Entries from the main GL04E filters screen.

Here’s a list of all the things you can edit:

Distribution    

Well to well, category (or both) for costs

Lease to lease, DOI, category (one or more combined)

General Ledger to General Ledger (for general and administrative costs)

New Date

Transaction Date

Service Date and/or DOI

For well related entries

Description line 2

When not using an Extended Description

Extended Description

From AP03Distributions and GL03 entries

 The top half of the screen (Transaction To Edit) is informational review and verification for the transaction attributes from the filtering criteria.

The bottom half (Edit Transaction) is the editable section. 

Make any necessary changes to editable fields, then –  

Save Record icon (blue diskette)

Saves any changes for the current record on the screen and exits the editing dialog screen. Returns to initial GL04E for new criteria, or exit if completed.

‍Update – Find Next Entry

Save changes to current record and find the next record that matches the filter criteria. Scrolls through each entry that matches criteria for editing purposes as necessary.

‍No Update – Find Next Entry

Don’t change current record, find the next record that matches the filter criteria.  

‍**FYI** for Update and No Update option. After all entries matching the criteria are found, GL04E will auto-return to the main screen. From there, new search criteria can be entered, or exit if completed.

Finished editing? Upon exiting GL04E an audit is produced with audit number, and auto-ARMs under GL04E button. Each edited item will appear on the audit. A line item with the old values will display first, then a line with the new values.

Edited well number transactions show in the General Ledger with a “transferred” notation.

In addition to the dollar amounts discussed above –

What you can’t edit:

• Well/category entries have to stay well/category. You can’t go from a well related entry to a GL account. Same goes for land/lease transactions.
• Or vice versa – can’t go from a GL account to a well/cat or lease/DOI/cat. 

• Revenue well/category distribution cannot be edited. 
• Descriptions 1 and 2 on revenue entries cannot be edited.
• Entries that have already been billed on JIB or Land Billing.
• Entries to a control account – such as AR control, AP control, etc. that have a corresponding sub-ledger. 
• Vendor/owner numbers.