Close Inventory Period

rinki123

Ques:Is it necessary to close the Inventoy period in "Accounting Year End Process"?
What effects are coming when we close the Inventory Period.

chengalasettyvsrao

a) An open inventory period defines a period in which users can post changes to inventory. When an inventory period is closed, no quantity or value changes can be posted to inventory before its ending date.

b) When an inventory period is over, it must be closed to block new transactions with posting dates within that period.

c) If you still want to continue to post the transactions in a closed accounting period , then you can reopen temporarily to post the transactions.


d) But I suggest to close the Inventory accounting period .