Fiscal year closed

Navneet_Sidhu

hi

Can any one tell me once i close my fiscal year and close income statement why entries are still allowed in that closed fiscal year... even if allowed it should be allowed only as a prior period adjustment ... :

1. why entry is allowed to enter once the year is closed.
2. how to trace entry passed is entered once the year is closed.
3. how to deal prior period adjustment.

Easy things are not easy to do.

Sidhu

Pat

I can't explain your why it is like that, but you can handle this very easy: You can close the fiscal year several times. To prevent postings in a closed fiscal year, set the permission for posting from and posting to. As far as I know you cannot find the entries which you postend after the first close income statement.

dustman

You can trace the entries which were made after the year was closed , since they get tagged with " Prior-Year Entry" within the entries, to give an extra description you could use " reason code" , these are also included in the posting entries


Cheers,

Erik E