Closing a Fiscal Year

[Gomesrp]

Hi all,

I have a doubt about the clearing fields in F0902 for the Profit & Loss accounts.
The question is: Are these begining balances (APYC) cleared by this process? I think that these fields are not cleared, but ignored by the system but by Job Cost. Am I right?

Does anybody knows exactly what happen with the F0902 after this process running?

Thx in advance,

Roberto

 

[lawrence_janes]

Hi Gomesrp

When you run the annual close F0902 records are created for the following fiscal year
The APYC is updated with incepttion to date whilst APYN is updated with the postings from the previous year. This is true for both balance sheet and profit and loss accounts.
The AAI GLG6 determines where the balance sheet stops and the PL starts. Therefore for all accounts after the GLG6 the account balance is the sum of the monthly amounts only whilst for any accounts before GLG6 the account balance is made up of the sum of the monthly amounts plus the APYC.

I hope this helps

 

[Gomesrp]

Just to close the thoughts; The beginning balance are carried forward to ALL accounts, no matter if it is P&L or not. But the system hide the information for standard inquiries and reports.
Am I right?

Thx,

 

[lawrence_janes]

Yes you are right

You can however write custom reports over the P&L that will report ITD however by default they are YTD

Regards

 

[lawrence_janes]

Yes you are right

 

[Gomesrp]

Thank you very much!

R.P.G.