General Ledger - EBS (MOSC)

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Create Balance Sheet / Income Statement Closing Journals program with in the Financial Year

edited Nov 10, 2009 5:32AM in General Ledger - EBS (MOSC) 2 commentsAnswered
 HI

We have strange situation, we got acquired by some other company.  As part of the process we have to close the existing Balance sheet and Income statement revalue Assets and liabilities and start new balance sheet under the parent company.  This is happening with in Financial year not in the end of the year.

We thought of using Create Balance Sheet / Income Statement Closing Journals program but Oracle says it should be done at the year end.

Any of you has similar experience i appreciate if you share your experiences how you handle this kind of situations in real life world.  If there is any other functionality please share with me.

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