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adjustment period
Posted: Mon Dec 17, 2007 3:24 pm
by varma.
HI,
what is the need of adjusting period? sould we close adjusting period. can anyone explain about this?
regards,
varma
Posted: Tue Dec 18, 2007 5:29 am
by 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
Posted: Wed Dec 19, 2007 1:23 am
by 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