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Rolling Balances at Year End

edited Jan 30, 2019 4:30PM in General Ledger & Intercompany 3 comments

Summary

Rolling Balances at Year End

Content

When we open our next fiscal year, we understand that the balances for our balance sheet accounts will roll automatically to the new year. Income Statement accounts should then be set to zero. My question is, is there any configuration we need to consider for this to happen? We have been told it happens automatically, but I want to make sure this is the case.

 

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