Balance Sheet reclassification is the last step in the sequence of the Advanced Valuation processes. You use the Post Balance Sheet Reclassification - Maturity job to sort your assets and liabilities according to their remaining term and their balance so that they can be reported correctly in your financial statements. You need to perform adjustment postings to do this and will find the Post Balance Sheet Reclassification - Maturity job in the Schedule General Ledger Jobs app.
The Post Balance Sheet Reclassification - Maturity job offers the following features:
- Adjustment postings to trade receivables and payables according to maturity.
- Adjustment postings for receivables with credit balances and payables with debit balances.
- Consumption of not cleared payments to determine the amount to be reclassified.
- It enables reporting capabilities of impairment effects separated from other valuations and balances.
- It is integrated with the other processes of advanced valuations represented by the following jobs:
- Advanced Foreign Currency Valuation
- Post Discounting of Long-Term Assets and Liabilities
- Post Credit-Risk Based Impairment
- Post B/S Reclassification - Master Data Change
The Financial Statement version can be simplified as less general ledger accounts are required for adjustment postings.
The B/S reclassification by maturity job of advanced valuation in financial accounting is now running with reversal posting logic. That means that the postings, that B/S reclassification by maturity posted in previous runs, are posted back on the reversal date to the account where the amount of the invoice was initially posted.