adjustment period

[varma.]

HI,
what is the need of adjusting period? sould we close adjusting period. can anyone explain about this?

regards,
varma

[anusha_rao]

hi
adjusting period shouldnot overlap
any information pertaining to the accounting period not captured can be captured in the adjusting period.
regards
rao
apps consultant

[SIVAKUMAR_G]

Hi

The need for adjusting periods are as follows

a) First note Adjustment periods are available only in GL and not in subledger
b) In GL, during year end process You can close the main Period, Say example you have Apr-Mar Financial Year, then You can close the March period and keep open only the Adjustment period. So that users will not create any back dated entry in March
c) This provides an audit trail for the year end adjustment entries passed
d) When You run most of the reports it includes the Adjustment period entries also in March and Provides you the consolidated figures

Hope this helps

Regards
Sivakumar