General Accounting - Update and Carry Forward Subledger Accounting Balances Processes

Summary:

We have started to open the new GL period prior to closing the old (prior) GL period. When the new period is opened, the Carry Forward Subledger Accounting Balances process automatically runs. Because transactions continue to post to the old period which impact the accounting balances, we need to understand the best practice to ensure the opening balances for the new period are accurate after the prior period is closed.

Content (required):

We have started to open the new GL period prior to closing the old (prior) GL period. When the new period is opened, the Carry Forward Subledger Accounting Balances process automatically runs. However, entries continue to post to GL from journals and subledgers to the prior period and at some point, the prior period is closed. However, because the new GL period was already opened at at earlier date, the Carry Forward Subledger Accounting Balances process does not run again when the prior period is closed.