Year End Closing in GL

 Hi,

When I open first period of next fiscal year,all the income and expense will be zeroed out and balance transferred to retained earning account.

In that case,whats the business scenerion where I can use the following two programs

1.Create Income Statement Closing Journals Program The closing journals you generate are marked for reversal in the same period the journals were generated. 2.Create Balance Sheet Closing Journals Program Closing journals are marked for reversal in the period following the period the closing journals were generated. Regards

Create Income Statement Closing Journals Program The closing journals you generate are marked for reversal in the same period the journals were generated. 2.Create Balance Sheet Closing Journals Program Closing journals are marked for reversal in the period following the period the closing journals were generated. Regards