GL regularization account reclassification report

The GL regularization account reclassification report shows a list of your regularization accounts, balance information, and any reclassification amounts. The reclassification amount represents a negative account balance that will be moved to the account's reclassification account if you reclassify the account.

The reclassification happens when you create and post a journal entry that moves the negative balance to the reclassification account. After you run the report, you'll see the Create JE option. Select this option to create two draft journal entries:

• The journal entry to move the balance from the original account to its reclassification account

• A second journal entry that reverses the reclassification entry on the first day of the next reporting period

Post the draft journal entries to complete the reclassification process.

Who typically needs this report?

CFOs, accounting managers, controllers, and other staff who need to monitor the status of regularization accounts. Also the person responsible for reclassifying regularization accounts.

To generate this report, go to General Ledger > All > Reports > GL regularization account reclassification.

For more information on running this report to reclassify accounts, see Reclassify regularization accounts.

What's in this report?

The report consists of the following columns:

Report Column Heading	Description
Account	The account number.
Location	The location associated with the account.
Opening balance	The account balance at the beginning of the reporting period.
Period balance	The net balance of account activity that occurred during the reporting period.
Closing balance	The account balance at the end of the reporting period.
Reclassification amount	The negative balance that will be moved to the account's reclassification account if you complete the reclassification process.