How to Correct Balances in 0.0.70.98

Nominal code 0.0.70.98 is the Non-Zero Correction Account, used when batch postings fail to balance correctly. This guide explains how to identify and correct entries in this account.

Steps to Correct Balances

1. Identify the Batch

1. Navigate to Navigator > Nominal Ledger > Transaction Report.
2. In the Code field, enter 0.0.70.98.
3. Input a date range (recommended: up to a year back from the current date).
4. Run the report to generate a list of transactions in 0.0.70.98.

2. Note Dates and Amounts

• Record the dates and amounts for all transactions listed.
• Export this data to a spreadsheet, notepad, or other tools for easier tracking.

3. Search for Related Batches

1. Reset the Transaction Report.

2. This time, leave the Code field blank.

3. Use the Date From and Date To fields to match the dates from your 0.0.70.98 list.

   • Tip: If there are multiple entries, search day-by-day for accuracy.

4. Filter the report by Batch Number by dragging the column header to the grey bar.

4. Locate Unbalanced Batches

• Identify batches that do not balance to zero.
• Note down the batch numbers and the corresponding amounts.

5. Investigate and Correct the Entries

1. Reset the Transaction Report and search by Batch using the dropdown option.
2. Enter the batch number and run the report.
3. Review the batch details to determine the correct nominal account for the unbalanced amount.

6. Post a Correction Journal

1. Create a journal entry to transfer the amount from 0.0.70.98 to the correct nominal account.
2. Include a clear Reference for traceability.
3. If the correction involves a Stock Record, Job Number, or other specific items, ensure these are recorded in the journal entry.