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JD Edwards World General Accounting I Guide
Release A9.3.x

E21540-03
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10 Enter Journal Entries for the Prior Year

This chapter contains these topics:

Closing the year does not necessarily prevent you from entering journal entries into the previous year. This is frequently done for adjustments.

Note:

For JD Edwards World releases prior to A8.1 use ##.

10.1 Using a Document Type && for Prior Year Entry

When you enter a journal entry with a document type of &&, it indicates to the system that you are making an entry into the prior year. Although you can use this document type for current year transactions, JD Edwards World does not recommended it.

When you post transactions with a document type of &&, the system will update them into the proper Net Posting Period field in the Account Balance (F0902) file based on the G/L date of the transaction.

If you have previously run the an annual close, and depending on the accounts entered into the journal entry, you may have to run the Annual Close (P09820) again in order to update the Balance Forward field of the record for the next year. Since this could also change the calculation for your retained earnings account, financial reports may also need to be rerun.

10.1.1 13th Period Audit Adjustments

Journal entries with a document type of && are most frequently used to update the 13th period for audit adjustments. In order to update the 13th period, however, you must have it established as a separate period in your Fiscal Date Pattern. The only way to update the 13th or 14th periods is to have a different period ending date than the 12th period. If the period ending dates are the same for the 12th, 13th and 14th periods, the Net Posting field for the 12th period will be updated in the F0902 record.

Note:

If you run the Repost Account Ledger program (P099102), it will treat the && entries the same as any other document type and will repost to the proper period and year.

10.2 Changing the Begin Year and Period in the Fiscal Date Pattern

If you choose to change the Begin Year and Period fields in the Company Numbers and Names program, you may post any document type to the previous year. Posting to the prior year after the annual close has been run, could cause an integrity problem.

After your post your changes to the previous year, ensure that you:

  • Rerun the annual close

  • Rerun any financial statements that may have been generated based on the old numbers.