"Migration Adjustment Entry" has me baffled

janineannejanineanne Member Posts: 3

One of my credit card accounts, which was reconciled before the migration, was showing a problem with reconciliation way back in 2014. This is one of those cards where there are transactions on the closing date of the statement which are not included in the statement, as I described here:

https://community.waveapps.com/discussion/7304/reconciling-credit-cards-with-transactions-not-included-on-current-statement#latest

At first I thought that was the problem so I started trudging through the data month by month, moving those extra transactions to the first day of the next billing cycle so that the current month would reconcile. Ugh. But then as I moved into 2015, something strange started to happen. Where there had been two unreconciled months each time, which would move as I fixed one of them, suddenly I was being told there was a problem with the next six months. And then then next year and six months. This made no sense, since I wasn't adding or removing transactions, just adjusting their dates by a day or two.

At this point I happened to notice a Migration Adjustment Entry in the data, and it was for the exact amount that Wave was telling me my reconciliation was off by:

This entry was made on 12-31-2015, and I was now being told that there was a problem between mid-2015 and 12-31-2016.

Since I couldn't delete it, I created a deposit transaction for the same amount on 12-31-2016 and voila, my account was reconciled once more.

Now my first question is what the heck happened here and why would I need to do this. But it gets weirder. I went back to look at at that adjustment transaction again and the amount has changed:

Why did the amount change? And how in the world is my account still reconciling? I can't imagine that what I did was the right thing to do, so... what should I have done?

Thanks in advance for wading through all of this...

edited February 17, 2020 in Using Wave

Comments

  • ravisramanravisraman Member Posts: 2

    I'm in a similar kind of hell with the migration adjustments...only I have over $13,000 worth of migration adjustments spread across a dozen accounts...and have no idea why they are appearing or what to do....if anyone knows how to figure this out (and I've already read the FAQ...it doesn't help) please let me know!

  • BarsinABarsinA Administrator Posts: 874 admin

    Hey @janineanne @ravisraman

    So migration adjustment entries are a bit complicated to explain, but essentially Wave allowed you to do some "interesting" transactions in the previous legacy version. When we upgraded to a more universal standardized accounting platform, we needed to move your transactions over. Some of the transactions were moved over as is, but others had to be brought over with a migration adjustment entry. This entry may not be correct, and though it is not deletable, you can reverse it by create a reversal journal entry in your transactions page under "more" at the top.

    You'll just want to mirror your debits and credits in the initial entry and this should reverse the adjustment entry once you've reconciled your difference and noticed that the amount is off by the adjustment entry.

    My apologies about this, you can read more about it here.

    https://support.waveapps.com/hc/en-us/articles/360035202671-Adjustment-entries-in-your-upgraded-account

  • ravisramanravisraman Member Posts: 2

    Perfect, thanks!

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