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20A-PREVENT GENERAL LEDGER PERIOD CLOSURE WHEN OPEN SUBLEDGER PERIODS EXIST

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edited Dec 16, 2019 12:50AM in General Ledger & Intercompany 6 comments

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We are getting one of the nice feature in 20A. 
 
PREVENT GENERAL LEDGER PERIOD CLOSURE WHEN OPEN SUBLEDGER PERIODS EXIST
This provides more meaningful and accurate financial reporting, because all exceptions would have been duly resolved and accounted for, before reporting.
 
Helps comply with audit requirements, This is opt In feature.
 
Prevent the closure of a General Ledger accounting period if the accounting period for any of the corresponding subledgers is still open, or if incomplete accounting entries or transactions exist for the period.  This ensures an effective period close process by validating all transactions are complete and aren't held up during the close.

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