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Adjusting Period in GL
Posted: Fri Apr 18, 2008 1:50 am
by suryabpc
Hi All,
While defining accounting calendar in GL, we define adjusting periods with lost day of every quarter (no of days in adjusting peiod is only 1 day).
Let me know the exact use to define adjusting period.
Rgds,
Surya
Posted: Fri Apr 18, 2008 4:51 am
by srinidavuluri
Adjusting period to perform adjusting and closing journal entries
Posted: Fri Apr 18, 2008 7:18 am
by rsriora
Hi Surya,
The use of adjusting period is, we can close the period whenever we complete the transactions. But our auditors will come after one or two months. When he comes and asked us to enter some adjustment entries we dont have to open the period. We can put t the entries in the adjusting period.
The adjusting period funtionality is available only in GL not in sub ledger modules.
Hope this is clear.
Regards,
Sridahr
[quote]Hi All,
While defining accounting calendar in GL, we define adjusting periods with lost day of every quarter (no of days in adjusting peiod is only 1 day).
Let me know the exact use to define adjusting period.
Rgds,
Surya
<i><div align="right">Originally posted by suryabpc