Phew!!! Year End is starting to slow down. Now it’s time for the prior year adjusting entries to start.

This year we introduced the new closing options:

  1. You could Advance the period to the next year and work in two years at once.
  2. You could archive the GL and move on as normal.

Depending on the option you choose will depend on the steps you take to make those prior year adjustments.

Please see article ID 30687 “I need to make adjusting entries to prior years.” in the Knowledgebase for steps on how to make these adjustments.