Year End Close after audit adjustments , clear balance

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You had, in June 2019, did a year- end close for your March 2019 for the audit purpose.
After the audit is complete, your auditor will give you some adjustment journals. Put through the audit adjustments in the appropriate financial period.

Next, run the Year- end again.

: Year end close


At [Setup]. click [ Financial Period ]



Follow the steps in [1] to [4] to process year end close again.



Next, go to Getting Started, Topic 3 : Chart of Accounts

Back to Getting Started

FAQ: Can I run the year end close more than once ?...Read more...

Answer : Yes you can.

After your audit adjustments, chances is that the Profit and Loss accounts will be changed, and the Unappropriated Profit and Loss brought forward to the next financial year will be affected.
If you had run the year end once, clear the balance away and run the Year end close again.


Related Topics

Unappropriated Profit / Loss account Important accounts in Chart of Accounts


Year end close after audit adjustments


Financial period setting


Trial Balance or P&L and Balance Sheet not tally



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