End oy year Activities

Hello Team,

We carried out end of year activities for year 2013 on 2 instances using the following steps:

1. Backup ERP database

2. Generate trial balance as at dec 2013

3. Close all subledger appl ications

4.Close all open GL periods

5. Open Adj-13 period

6. Run Income statement Journal

7. Close Adj-13 period

8. Open Jan 2014.

9 .Run trial balance as at Jan 2014.

Observation on the first insance:

All the steps completed successfully. It was observed that the values in the retained earnings was far less than what was obtained in dec 2013.

Observation on the second instance: N:B The income statement journal was not run on this instance