Closed and not-yet-open store expense reclass
Step-by-step mechanics for moving closed, temporarily closed, and pre-open store activity down to dedicated closed-store expense lines.
This entry moves P&L activity for closed, temporarily closed, or not-yet-open locations down to dedicated closed-store expense lines near the bottom of the P&L, so those stores don't distort operating-store results.
Source: Rackson_RRS_RCY_Review_Process.docx section 45. In Intacct this appears under a description like "P6 Closed Store Expenses" — the period number changes each cycle.
P&L review covers the store-status check; this page is the mechanical detail behind the entry. Per the close checklist, this is a WD7 task — one of the last things done before the close wraps.
Step-by-step (RRS)
- What the P&L is showing.
- Direct communication with Mike and his team about which stores are currently closed, temporarily closed, or not yet open.
Type in the affected store numbers and mark each one as Temporary, Permanent, or Pre-Opened.
Columns E and F then automatically assign the correct closed-store GL account for that status — you don't pick the account manually.
For all Rackson Restaurants locations, all P&L accounts. Pull it into Excel and filter out any stores that aren't relevant to this entry — keep only the flagged closed / temp-closed / pre-open stores.
Paste the filtered data in. Enter the entry date and period at the top — this also updates the journal entry description automatically, which is why the JE description includes the period number. Drag the formulas down for any additional stores.
Check column L on the import template. For any amount hitting a closed-store account (e.g. 88250, 88251), the memo field is built to also show the original account the amount came from.
This is intentional: the client periodically asks what type of expense originally made up a given closed-store balance, and this lets PBI answer from the GL detail without having to redo the analysis from scratch.
After posting, rerun the side-by-side report. Scroll to the bottom to see both net income and the closed-store expense lines together, and confirm that operating net income plus/minus the closed-store lines reconciles the way it should.
In short: everything that should have flipped out of individual store results into the closed-store lines actually did.
Watch-outs
A balance can pop back into a store's normal accounts mid-close after this reclass has already run. This is described as happening fairly often, for the same reason as the in-house maintenance reclass: Caitlin's GL adjustments landing late.
The fix is either to be aware after running the allocation that anyone booking further entries needs to search for and handle the flagged stores first, or to simply plan on rerunning the report a second time later in the close.
Confirming that both the in-house maintenance reclass and the closed-store reclass are clean is one of the last checks before the close wraps — done via the side-by-side report.
RCY (Dave's) uses the exact same file structure and process, but the RCY version of the workbook is built around pre-opening stores rather than closed stores, since RCY's growth profile skews toward new openings rather than closures.
Related
- In-house maintenance allocation — the other reclass with the same late-adjustment risk
- P&L review process — the store-status check that validates this entry
- RRS delivery, maintenance and reporting workpapers — the 88250 preparer steps
- RCY pre-open and closed store workpapers — DHC-01354 pre-open and DHC-01498 closed