Issue/Symptom/Question

Previous Fiscal Year has been closed, but adjusting entries need to be posted to closed fiscal year period.   How do I post transactions to a closed fiscal year.

Applies To

All versions

Patriarch OU fiscal year closed

Financial and Accounting/Processing/Accounting Closes/Close Fiscal Year

Resolution/Fix/Answer

Please log a Service Desk Ticket identifying the Patriarch Legal Entity OU, the Fiscal Year, and any periods other than the final one to be opened.

• Penta will need to 're-open' the closed Fiscal Year and the final accounting period 12 for any adjustments needed.. 
• If for some specific reason, the adjustments need to be made in an earlier period (than period 12),we will need to re-open all periods within that previously closed fiscal year for the patriarch OU selected.
• Once the adjustments are completed, please re-close the opened period(s) again, and then re-close the Fiscal Year.
• Once this has been completed, please notify Penta, and Penta will re-set all current fiscal year closes that were previously processed.  Once that is done, continue normal processing.

Cause 

Adjusting entries for a previously close FY have been identified, and will need to be entered with a posting date in the closed fiscal year.