Initialize Permanent Journal Entries

Return to Financial Consolidation model Overview

The Initialize Permanent Journal Entries helps users maintain journal entries which apply not only to the current reporting period but also to subsequent reporting periods. The Initialize Permanent Journal Entries brings the journals entries of the previous reporting period to the current reporting period.

Execution

When you run the Initialize Permanent Journal Entries procedure, a Source reporting period is copied, and a duplicate of the manual journal entries will be created in the current reporting period. The current reporting period here means a combination of Version and Month_YTD and the Source reporting period means a combination of Version and Month_YTD.

The default prior reporting period is the combination of the Previous Version attribute in the Version dimension and the PriorPeriod attribute in the Month_YTD dimension. You can alter this default combination when running the Initialize Permanent Journal Entries procedure.

When you run the Initialize Permanent Journal Entries, all permanent, manual, and posted journal entries in the Source reporting period are duplicated. The modified duplicates of the journal entries are then brought to the current reporting period.

Option: while the default behavior of the Initialize Permanent Journal Entries is to create just saved entries and allow you to apply changes just before posting, you can also optionally post the new entries.

Notes:

  • The Initialize Permanent Journal Entries procedure does not clean up any duplicated journal entries from the previous runs and the model does not "own" the resulting entries. All these duplicates are "owned" by the user, and the user can change, delete, or post the entries. If you wish to run the procedure again, you must remove duplicates from the previous run manually.

  • To stop the duplication at a given reporting period you need to run the procedure and modify the duplicated journal entry by removing the Permanent flag. After this modification, the journal entry can be posted. However, note that when you remove the Permanent flag, the subsequent reporting periods will not duplicate this journal entry anymore as it is not permanent anymore.

Transformations applied to the duplicated journal entries

The origin is by default set to the source journal entry, however, if the source period (Month_YTD element) was a different year in the past, the following additional transformations are applied to the duplicated journal entry before it is pasted.

  • All journal entry lines from the Balance Sheet cube (or Balance Sheet (Segment) cube) are moved from any transation type to the T000 (Opening) transaction type.

  • All journal entry lines from the Profit and Loss cube (or Profit and Loss (Segment) cube) are moved to the Balance Sheet cube (or Balance Sheet (Segment) cube) on the retained earnings accounts on the T000 (Opening) transaction type.

  • Multiple journal entry lines of the same legal entity, partner entity, balance sheet account, transaction type, etc. are consolidated into one line. The debit and credit amounts are netted.

  • If a journal entry line results in a zero amount, it is removed from the journal entry.

  • If all journal entry lines have been removed, the journal entry is removed.

Implementation

The Initialize Permanent Journal Entries procedure is implemented as integrator job xdij01_170_Initialize_permanent_journal_entries in the Posting Journal project.

Updated June 13, 2025