What is 0.0.70.98? - And how do I correct the entries?

Modified on Tue, 07 May 2024 at 10:08 AM

This guide outlines a specific Nominal code and how to correct the entries.


0.0.70.98 is the Non Zero Correction account.


If for any reason a batch posting does not complete, and therefore does not balance correctly to zero, the system will automatically post the opposite entry to 0.0.70.98 overnight.

This will keep the Trial balance in balance - and by putting the amount in 0.0.70.98 you can then journal it out of this account and to the correct nominal account

 

In order to identify the batch that created the entry in 0.0.70.98 you need to identify the date in which the posting was made. 


Go into Navigator > Nominal Ledger > Transaction Report 




In the Code field enter 0.0.70.98


Enter a date range (its recommended to go about a year back from current date). 




The report will show a list of all the transactions that are currently in 0.0.70.98.


Make a note of the dates and the amounts of each entry that display - or export to spreadsheet, notepad, etc. 


Select Reset on the Transaction Report so that you can continue with your search.
This time leave the Code field blank.


In the Date From and the Date To - enter the first date of the 0.0.70.98 on your transaction list (it is easier to do it day by day if there is more than one item on your list). 


When the report has finished, filter by batch number (drag the column header to the grey bar).
You will notice that most of the batches show as zero - the items that do not, these are the batches you are looking for. 


Scroll down the list, and make note of each batch number that does not balance to zero, as well as the amount (an amount on 0.0.70.98 can be the tally of a few batches rather than individual ones).


Once you have made a list of all the batches, Reset the Transaction Report - and then select from the drop-down list search by "Batch" on the Transaction Report rather than "by Code".


On this report, enter the required batch number and select Report.


You will then need to investigate the batch to identify where the amount in 0.0.70.98 should have actually gone.


Once you identify the nominal account the balance should have gone to, journal the amount out of 0.0.70.98 and into the required account.


I always advise to enter a "Reference" when posting the journal so you know what the transaction links to when looking back.


Also, if journaling to a Stock Record, Job Number etc. - don't forget to enter this onto the journal in the available fields. 

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