Field Reference for Period End Journals

The document titles and main accounts for period end journals are listed in the following table. All possible titles are included, but preferences in your account determine which are created. For more information, see Defining Subsidiary Settings for the Period End Journal Entries Feature.

Document Title	Main Account
Historical Consolidation *	Cumulative Translation Adjustment
Historical Income Statement Closing	Retained Earnings
Consolidation *	Cumulative Translation Adjustment
Income Statement Closing	Retained Earnings is the main account for the income statement closing journal when the subsidiary preference Create Income Summary Journals is not checked. When the subsidiary preference Create Income Summary Journals is checked, two income statement closing journals are created instead of one. Retained Earning is also the main account for the second income summary closing journal when this subsidiary preference is checked. If the subsidiary has a net profit for the period, the first income summary closing journal uses the profit account selected with the subsidiary preference as the main account. If the subsidiary has a net loss, the first journal uses the selected loss account as the main account.
Balance Sheet Closing	This type of period end journal is created only when the subsidiary preference Create Balance Sheet Closing and Opening Journals is checked. The main account is the selected Balance Sheet Closing Account.
Balance Sheet Closing	This reversal journal is the balance sheet opening journal that posts on the first day of the period following the fiscal year end. The main account is the selected Balance Sheet Opening Account.
* Consolidation journals are created only when the Period End Journal Entry feature is enabled for a parent subsidiary and the accounting preference Use Consolidation with Period End Journal Entries is checked.

Document Title

Main Account

Historical Consolidation *

Cumulative Translation Adjustment

Historical Income Statement Closing

Retained Earnings

Consolidation *

Cumulative Translation Adjustment

Income Statement Closing

Retained Earnings is the main account for the income statement closing journal when the subsidiary preference Create Income Summary Journals is not checked.

When the subsidiary preference Create Income Summary Journals is checked, two income statement closing journals are created instead of one. Retained Earning is also the main account for the second income summary closing journal when this subsidiary preference is checked.

If the subsidiary has a net profit for the period, the first income summary closing journal uses the profit account selected with the subsidiary preference as the main account. If the subsidiary has a net loss, the first journal uses the selected loss account as the main account.

Balance Sheet Closing

This type of period end journal is created only when the subsidiary preference Create Balance Sheet Closing and Opening Journals is checked. The main account is the selected Balance Sheet Closing Account.

Balance Sheet Closing

This reversal journal is the balance sheet opening journal that posts on the first day of the period following the fiscal year end. The main account is the selected Balance Sheet Opening Account.

* Consolidation journals are created only when the Period End Journal Entry feature is enabled for a parent subsidiary and the accounting preference Use Consolidation with Period End Journal Entries is checked.

The tables in the following topics list and describe the fields on period end journals. The only fields you can edit are the Memo fields and any custom fields or segments that do not affect the general ledger. None of the fields on the Balance Sheet Closing Reversal are editable.

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