TEMP CLOSE

[dmrVA]

I did a temp close for year end, thinking I could still do GJ entries. When I try, says out of period.

I can do a manual BS/IS...only a few entries. But I just wanted to know if this is the norm, or I did something wrong at the temp close.

Thanks
Donna

 

[dmrVA]

Found it
System Periods - box to allow posting out of year should be set to warn, mine was prevent

 

[NEmacGuy]

You want to press deeper.
What type of GL accounts are you posting to in the J/E(s). I ask because I would recommend leaving the prevent flag, but you would have change your calendar back to last year, period 12. Your method would work too. But if you have and P&L accounts, you better recalc account balances, before you run any financial statements for the current year. This is my reason for always changing the calendar. I automatically recalc account balances after change in calendar. If you don't your period balances will be wrong on P&L accounts, Balance sheet accounts are accumulative so no problem.

 

[dmrVA]

Thanks for the tip "Recal GL Balances". These were Balance Sheet accounts, with the exception of one.