Why is it that when I perform the period end functions that I am still able to post items into the prior periods? Is there no way to lock users out of posting to "closed" periods? How do I ensure that items do not get posted into a period six months ago, or even last month?

Hello Sonia,

In Adagio Ledger, you can close fiscal periods once you have printed the financial statements. Transactions allocated to the closed periods are written to an error batch and are not posted.

In the subsidiary ledgers, there is a setting in the company profile that controls how far "away" from the current date a transaction can be entered without generating a warning.

You'll see this tightened in the Version 9.0 products as they release.

Thank you. Please help me understand this. If I want my month to cutoff on the 10th of the following month (ie. no more entries for the prior month being posted INTO the prior month after the 10th of the month following), then, in the subledgers, I should have it warn me if my transaction is more than 10 days prior to my entry date? What happens on the 25th of the month when I want to post something to the 2nd of the month? Is this just a warning that anyone can override? Also, in order to do a period end in the ledger, am I using the Close Year function to close my period? And if so, what happens to all the entries that would normally be written into the R/E? And then what happens at year end?

Hi Sonia,

If I want my month to cutoff on the 10th of the following month (ie. no more entries for the prior month being posted INTO the prior month after the 10th of the month following), then, in the subledgers, I should have it warn me if my transaction is more than 10 days prior to my entry date? Yes.

What happens on the 25th of the month when I want to post something to the 2nd of the month? You'd get a warning (although there is nothing to prevent you making adjustments to the "number of days" setting throughout the month).

Is this just a warning that anyone can override? Yes.

Also, in order to do a period end in the ledger, am I using the Close Year function to close my period? Absolutely NOT! Close year is to do the year end close entries that move the P&L accounts to retained earnings. There is no specific "period end" function in Ledger. It's no necessary. Just mark the period "closed" in the fiscal calendar in the company profile.

And if so, what happens to all the entries that would normally be written into the R/E? Year end is only run at your actual year end.

And then what happens at year end? You run the "Year end" function.

OK?

Yes, thanks, it helps a lot.
I'm still a bit disappointed about the "warnings" in the subledger, but at least it gets caught in the Ledger.

Although, now it makes me wonder how you would ever get your subledger to balance to the G/L account if you can lock out a period in one module, but not in the other.....

Hi Sonia

You balance your subledger to the G/L account before locking the G/L period. You only lock a G/L period once the financial reports are run. Presumably by that point you would have printout out subledger reports whose total balances to the proper G/L account.

Steve