General Ledger - EBS (MOSC)

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Year End Closing

edited May 14, 2009 11:05PM in General Ledger - EBS (MOSC) 3 commentsAnswered

Hi Guys

If we open new period of new fiscal year , expenses and revenues accounts balances are adjusted in retain earning accounts automatically. We dont need to run year end closing-income statement program.

So What are the benefits of running of year end closing program even though balances in trial balance report are set automatically when new period opens in new fiscal year.

 

Regards

QADEER AHMED

  

 

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