Hi ncc,

When you 'post to prior year' in Adagio Ledger, this will update the previous year balances and net changes. In the case of posting to any income statement accounts, this process will also simultaneously generate the appropriate closing to retained earnings. The transaction detail will also be saved and specially indicated that it was posted by the prior year process (on the detail listing report).

Another thing you can do with 'post to prior year' with Adagio Ledger 90A is the ability to send the entries to a 'period 14' or 'year end corrections' period. This would allow you to print reports and financial statements for year end either with or without these accountant correcting amounts. You could still get the reports as of before entering the corrections, if desired.