Hello,
I have created the new fiscal year. Have not closed the current year, waiting on year end adjusting entries from accountant. Question is..can I post batches retrieved to the g/l for the next year? Thanks
Deb

Hi Deb,

With the next fiscal year open, you can enter and post batches to either the Current year or the Next year.

If all you are waiting for is adjusting entries, you don't have to leave the 'current' year open - instead you could close it and when the adjusting entries come, use the Post to Prior Year function for that. This has 2 specific benefits: one is that with only one batch system open there is less chance of entering a journal entry batch in the wrong year, and two is that the Post to Prior Year gives a choice of posting to 'period 14' reserved for Year End Adjustments, which can be included or excluded on reports and financial statements and leave period net changes comparisons intact.

Here are two specific short videos from our website about running with two years open and closing a fiscal year in Adagio Ledger.

Thanks so much for quick respnse. I knew that I could close the current year and then post adj entries later to previous year...just wanted to confirm whether it was possible to do the other way. Nice to know there is flexibility.
Deb

Posting year end adjustments is the preferred method of handling those transactions. Otherwise they just "disappear" into the batches for the year, and accountants usually like to be able to call them out separately. Also, Prior Year Posts are the only ones with access to the Year End Adjustment period. So, you can have 12 (or 13) sets of operational statements, and then a Year End statement that does not affect your operational comparatives.