PD.PAYMENT.DUE

Globus : G13

When you change the status of a PD to WOF or FWOF are there any financial entries posted to the PL what does globus does ?

Yes there will be a financial impact.

The general ledger WOF account will be debited and the corresponding PD account will be credited.

thanks

Hi,

If income were not being recognised prior to financial write off, then all memo accruals held in the system would also be reversed out. If income were recognised prior to financial write off then accrual entries posted with respect to PE and PS would be reversed out. IN component that had moved to PD would be written off into WOF category indicated in PD.PARAMETER.
Effectively, after financial write off there would be no evidence of transaction in the books of accounts except that information on outstanding balance would be held in the system for collection purpose.

Hope this clarifies.

Best Regards,
Sastry

After WOF the problem am not facing is that am failing to close the drawdown account .Globus is saying it has forward entries but the MG has matured and the PD is now in history so where are the forward entries coming from.