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Different Calendar on the Primary and Secondary Ledgers

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edited Feb 18, 2020 2:57PM in General Ledger & Intercompany 8 comments

Summary

Different Calendar on the Primary and Secondary

Content

Hello :

I have a primary Ledger from Jul-Jun Calendar and another Secondary Ledger from Jan-Dec.

I have a question on the Primary Ledger I will do the month end year, so all the P&L Accounts will be transfer to retaining earnings accounts, hence the year end close journals will not be transfered from Primary to Secondary Ledger.

However in my view the P&L accounts will start over in August ?

Example :

Primary Ledger

July 2020

Expense Account Salary and Wages = 300 USD

August 2020

Expense Accounts Salary and Wages = 0 USD      --- This a a new value because the P&L Accounts will be transfer to retaining earnings

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