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  1. First Option, Inc.
  2. Financial Software
  3. General Ledger

I just made an adjusting journal entry to the prior year. Is there anything else I should do?

Question:

I just made an adjusting journal entry to the prior year. Is there anything else I should do?


Resolution:

Always rerun the GL Year End Close. The Year End Close can and should be run every time adjusting entries are made to the prior year.  By re-running it, the opening balances are recalculated according to the new ending balances.

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  1. Paul Fuller

  2. Posted

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