8.3. Do you have Adjustments after Year End Closing?

8.3. Do you have Adjustments after Year End Closing?

After Year End Closing (YEC) has been done, then you generate the P&L and tick 'include Current Year End closing' the value should be zero.

If you made audit adjustments, then you may have values that were not included in the YEC.

For example,

FY 2018.

Year end closing has been done.

Auditor give you some entries to add.

Now when you generate the P&L and tick include current year end closing

the report will generate with values.

Note. you can generate the P&L with the above options to quickly see if you have entries that were not included in the year end closing.

To resolve is you can run the YEC module again.

this will post your adjustments into the retain earnings account.