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Year-End Close

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edited Jan 30, 2019 4:30PM in General Ledger & Intercompany 9 comments

Summary

How is year-end close different from month-end close?

Content

Our institution is new to R12 (went live 7/1/17) which means we haven't done a year-end close yet. We've been told that year-end is similar to month-end. We know we'll have to build new calendars...but our functional leads are questioning how balances roll forward and what they look like in the new year. Is the carryforward a separate line or is it lumped into the new year funding? What happens with unaccounted/POs that need to roll forward? And to top that all off we are upgrading to R13 in the next 6wks.

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