opening another calendar
Posted: Thu Jan 24, 2008 3:39 am
what is the effect of opening another calendar year without closing the previous year calendar.
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.