opening another calendar

This forum is to discuss different features/issues of Oracle Financials modules ( GL - General Ledger, AP - Accounts Payable, AR - Accounts Receivable, FA - Fixed Assets & CM - Cash Management ).
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keke
Posts: 24
Joined: Mon Nov 26, 2007 12:15 pm
Location: Nigeria

opening another calendar

Post by keke »

what is the effect of opening another calendar year without closing the previous year calendar.
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ramesh.nalem
Posts: 37
Joined: Tue Feb 27, 2007 1:17 am
Location: India

Post by ramesh.nalem »

Hi Keke,

The simple answer is your Trial balance will not show the corect information.

Reports will not show the accurate data for that particular year, because there are some transations of current period may goes to next open period.

Higher level may not take a decision on information which may not be accurate.
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ahsan.global
Posts: 63
Joined: Mon Apr 16, 2007 8:02 am
Location: Pakistan

Post by ahsan.global »

Ramesh...Please correct me if I am wrong...
when open new calender in GL, only effect is the carry forward of Balance sheet s account balances, while P&L accounts will not be effected.
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