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.
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