Carry Forward balances query
I need to know how system will carry forward the P&L account balances @ Year end.
1. For example I have balances for Expense Account 31-Dec-2009, when we close the period Dec-09, how system will foraward this balances to retained earnings account. and what entry system will generate either front end or back end.
2. For example I have balances for Revenue Account 31-Dec-2009, when we close the period Dec-09, how system will foraward this balances to retained earnings account. and what entry system will generate either front end or back end.
3. And what if my user modified the Account segment qualifier as Expense to Asset or Revenue to Liability without carryforwarding these balances. ( of course it is not standard practice but how system will restrict the system).