New Year Opening

[EMANUEL]

Hi,

What are the pre-requisites for New year Opening in Finance Modules including India Localizations ? can anyone provide me the list of the same

Rgds
Emanuel

[siva sankar]

Hi,

In FA module, while defining the calendar for FY 2011 -12. 2012 is the leaf year. Please note that point and define the same.

Better to open the next year FA periods before completion of this month(MAR-10-11) depreciation run. other wise system will open the FA periods automatically. I hope there is a chance to create the calendar for 29-FEB-2012 with wrong period name.

In AP, Please check any partial account entries are available in the system. If yes, then try to do the accounting and close that issue before Year End other wise it will prevent to close the AP periods.

Thanks & Regards,

Siva

[admin]

Pre-requisites to open new year is to first close last year once you will open 1st period of next year the income statement will be closed difference will be posted to retained earnings account. tks