Issue/Symptom/Question

The Gross Margin for a number of jobs was mis-stated for each period of the entire prior fiscal year, and adjusting entries are needed in all periods.

Environment

Adjustments to the Cost+ Markup amounts for each period

   Financial and Accounting / Data Entry / Revenue Recognition / Revenue Recognition Job Markup Percentages

Journal entries for final period in prior FY

   Financial and Accounting / Data Entry / Journal Entries / Journal Entry

Resolution/Fix/Answer

Please contact Penta to review and evaluate your particular requirements for this process.

If you find you need to make adjustments to a closed fiscal year, please submit  Service Desk ticket and reference this article.  Please provide the following information in your Service Desk ticket:

• Patriarch OU 
• Fiscal year to be opened
• number of periods that will need to be adjusted
• Security level required for the re-opened periods

Cause 

Job Revenue settings were entered incorrectly, and adjusting entries are needed for all accounting periods within a previously closed Fiscal Year