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 Suspense
Comparative 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
- 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.
Scenario 2
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.