Ledger Reclassification

If a ledger was mapped to one subhead in the previous year (e.g., Labour Welfare Expenses) and to a different subhead in the current year (e.g., General Expenses), the financial statement will display the same ledger under both subheads. To align the ledger to a single subhead across years, users use the Ledger Reclassification feature. 

This feature allows users to reclassify ledgers without unfinalizing the previous year, ensuring that a ledger appears under only one subhead in the financial statement.

In addition, the Subhead Configuration page includes an option to select or unselect subheads that are eligible for reclassification. This flexibility has been extended to almost all subheads, giving users greater control over how ledgers are classified across reporting periods. 

The images indicate that both the subheads Labour Welfare Expenses and General Expenses have been marked for reclassification. 

On the Final Statement Generation screen, users can click on 'Reclassify Ledgers' to initiate reclassification. 

Note: Only ledgers mapped to subheads that have been marked for reclassification will be listed on this screen. Even if one of the subheads are not marked for reclassification, the row will not appaer on this screen.

As long as the ledgers are not reclassified, they will appaer under both the subheads across FY periods. 

When the statement is generated without reclassifying the ledgers the ledger will appear twice , once under each of the subheads. 

However , once they are marked for reclassification before generating the financis statement , the ledger will appear only once under the subhead to which its mapped in the current year.