Dear Team,

I have a concern, can you say how my users of the ledger were able to post prior year transactions and then evoke them clearing to the retained earnings account with a Fiscal Period = YE.

See pdf print of the Retained Earnings Account which has thrown out my balances in synchronizing the audit database for year 2009 and current working database for 2009-2010-2011.

We converted to adagio in 2009 so the old method used for Accpac Dos was still practice where each year was backed up and audited then the adjusting entries were brought over and posted as prior year.

This is what we are doing for Adagio only for the first year, for the 2010 and 2011 I will leave both years open and when audit complete I will close 2010. Because I noticed that the detail info for the prior year gets consolidated, which will not do for the audit..please advise if true.

See file below with entries I need explained.

Hi chinmook,

If the question is what does the 'YE' mean for the fiscal period, then the answer is that when the batch was posted to the prior year, the option to post to the 'Y/E adjustment period' was selected. Doing this keeps the prior year postings separate from the 12 or 13 fiscal periods for the purposes of period-comparative financial statements.

If the desire was to have these details posted to period 12 (or whatever period was entered on the batch), then this option to post to the Y/E Adjustment period should not have been selected.

Running Year End Processing or closing a fiscal year will not consolidate details. Either somebody ran the Consoldate function, or some accounts are set to post Consolidated rather than in Detail.