This chapter contains this topic:
From General Accounting (G09), choose G/L Advanced & Technical Operations
From G/L Advanced & Technical Operations (G0931), choose 52 Period Accounting
From 52 Period Accounting (G09313), choose Annual Close for 52 Period
To close a year and update the beginning account balances, you must process an annual close for the 52 periods.
The Annual Close for 52 Period program updates balances from the Account Balances table (F0902) to the Account Balances - 52 Period Accounting table (F0902B). It updates amounts for the following:
Prior year end net
Prior year end cumulative
Beginning budget
Projected over/under
Percent complete
Projected final
Budget requested
Budget approved
Week-to-date
This is a DREAM Writer program.
If the selection criteria for the Annual Close for 52 Period Accounting and Repost for 52 Period programs are the same, the results are the same except that the repost also updates the 54 amount categories from the Account Ledger table (F0911).
You should run this program after executing the G/L Annual Close program (P098201). If you were using P098201 to close fiscal year 16, then you would want to select fiscal year 17 records from the Account Balances file (F0902) in this program to update the Account Balances - 52 Period Accounting file (F0902B).