Our company has not closed out last year's ledger. Therefore we are now using the post to next year function in the General Ledger program. I see you have an unpost to current year function but I don't see an unpost to next year function. Is there anyway I can unpost a batch to next year?

Hello ncc,

Sorry, no, not at this time. You will have to wait until you close your current year.

Hi ncc

Do you know that there are very very few reasons to wait to close out the "current" year. Certainly you don't have to wait until you are finished posting to the "current" year. You can always close it out and then post to it once it is called the "prior" year.

Here are the only reasons I have come up with for not closing the current year (some of them are trivial):

1) You want to have the option to unpost from that year (the single most important reason!)

2) You want to be able to EASILY retrieve subledger activity into that year (for example, AP invoices)

3) You keep lots of unposted batches and you want to organize them by year

4) You don't purge GL posting journals and you want to keep a "complete" set of current year posting journals in one file

Other than these points, the only other effect of closing out the "current" year is that it changes name to the "prior" year, and the "next" year changes name to the "current" year. But that's a good thing.

Steve

Thanks, I never used the prior year posting so I never really thought of it that way. I was waiting for the last entries from our accountant before closing. What exactly happens when you post to prior year?

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.