I have created one WBS element and settled the same to the Internal order and internal order is then settled to the AUC . This settlement has been run on 31.03.2008 (FY2007)
Ifound that on 31.03.2008 some cost was over charged to wbs and later on settled to AUC
I want to correct the mistake in FY 2007 so Please tell the process
Sudeep Mishra replied
You can reverse the settlement.But the thing is that the last FI period might have been closed which will impact your balance sheet & Pl Account.
The solution therefore is you have to use Prior period GLs .Book Negetive costs in the Prior Period GL against the Same WBS.Transfer it to an internal order.Settle the negative cost of that order to the AUC code.