This error occurs when there are postings to the range 921-922.02 or 842 and 854 and the amounts have not been entered into the compliance database or have been entered incorrectly.
Current Year Formula
- The total for Nominal Account Range 921-922.02 = Amounts Repayable
- The total for Nominal Account 852 + Nominal Account 854 = Suspense
- Current Year Repayable(s) Current Year SuspenseComparative Year
- The same formula will be used for the comparative year.
- (Comparative Balance for NominalAccount Range 921-922.02)+ (Comparative Balance for Nominal Account Range 921.01-922.02) = (Comparative Year)Amounts Repayable
- The comparative balance of Nominal Account 852 + Comparative Balance for 854 = (Comparative Year) Suspense Comparative Year Repayable Comparative Year Suspense
- Now, go to Compliance Database> Liabilities, Provisions and Deferred Income> Creditors> 1 Year.
- Scroll down this page, you will see the applicable section HP and Finance Lease Maturity.
- Now, we will input our Repayable(s) for the current year = 1300
- And our current year suspense amount = 150
- Now, we will input our comparative year Repayable(s) = 1500
- And our comparative year suspense = 0
- When refreshing the accounts, we will see that the format error is resolved as reconciling amounts are now entered in Nominal Ledger and Compliance Database.
In another scenario, this HP Loan could be split with some amount repayable between 1 and 5 years, and another amount repayable in greater than 5 years.
In this case, ANY combination that totals to Repayable(s) will be an acceptable entry.
Ex. 1000 +300 = 1300 Current Year Repayable(s)
The same is true for the comparative year.
Ex 1000+ 500 = 1500 Comparative Year Repayable(s)
This should resolve the error.