The basic Accounting formula is Total Assets = Total Liabilities + Total Equity.
The seeded account FCCS_Balance in FCCS application is designed to temporarily house the imbalance in the basic Accounting formula at Entity Currency. By default, this seeded account is Disabled for all Scenarios.
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To enable this account, open the Balance the Balance Sheet screen located at:
Application> Consolidation> Local Currency > Balance the Balance Sheet
Note that by default FCCS_Balance is disabled for all base Scenarios. To enable it for specific Scenarios, such Scenarios must be listed as an exclusion to the Disabled Scenarios. This can be done by:
- Click Disabled Scenarios
- Select Add Exclusion
- Edit Exclusion and select the Scenarios you would like FCCS_Balance to be enabled.
- In the example below, we added Actual as the Scenario where FCCS_Balance is enabled
- Click the icon to the right of Disabled Scenarios to save the change