How to use ’Split up accounts’ after a Year End Close
This FAQ explains the correct procedure using Split-up Accounts after a Year End Close has been performed and once the current year balances have been imported into the engagement file.
Before a Roll Forward
Before an engagement file is rolled forward, all split-up accounts should be balancing between the total account and the total split-up account.
After Roll Forward
After an engagement file has been rolled forward and current year balances imported, the user is required to adjust their split-up allocations for the current year.
All client account numbers (which contain split-up allocations), will display the following icon:
Filtering unbalanced split-up accounts
You can separate unbalanced split-up accounts in the Working Trial Balance to make it easier to find all unbalanced split-ups.
- From the Navigation Toolbar, select Trial Balance. This will open the appropriate screen.
- From the ribbon, select View tab|in the Filter area | Filter by > Unbalanced Split-up Accounts. This will only display unbalanced split-up accounts are displayed.
When dealing with this scenario you have two potential options.
If you do wish to split-up the current year, proceed with the split-up allocation and ensure the total account balances with the total split-up account.
If you do not wish to split-up the current year (but you still wish to leave the prior year split-up), then you need to allocate the full amount of the current year balance to the 'Total Account's' map number (e.g. in this case:18.104.22.168.100.100.250.100.00000.000).
If the total account's map number was not used in the original split-up simply create a new line in the split-up (e.g. in this case: 1610.06) and apply the full balance of the Preliminary column into this new line and ensure the Prior year balances are zero.