Fay,
You would un-check the closed box in the fiscal period maintenance, create the journal entry, review it and post it if correct, then manually check the closed box again in the fiscal period maintenance.
While it is possible to reopen a fiscal period and make an adjusting journal entry to that previous period, all previously printed financial statements for any subsequent fiscal periods are now inaccurate. If that is not an issue, then you should be okay.
Stephen Schaefer
Abrams Manufacturing
You would un-check the closed box in the fiscal period maintenance, create the journal entry, review it and post it if correct, then manually check the closed box again in the fiscal period maintenance.
While it is possible to reopen a fiscal period and make an adjusting journal entry to that previous period, all previously printed financial statements for any subsequent fiscal periods are now inaccurate. If that is not an issue, then you should be okay.
Stephen Schaefer
Abrams Manufacturing
--- In vantage@yahoogroups.com, "fweiskees" <fweis@...> wrote:
>
> Once a fiscal period has been closed, is it possible to go back in and do adjusting entries? I saw where the fiscal period can be re-opened in the maintain fiscal periods area, but I'm concerned about how adjusting entries made after a period is closed actually get posted since it seems that once a period is closed, it no longer is available on the close fiscal period / year menu.
>
> If you could please explain that process, I would appreciate it.
>
> Fay Weis
> KEES, Inc.
>