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Financial Management - PSFT (MOSC)

How to update beginning balances after a close

Dec 15, 2016 2:14PM edited Dec 16, 2016 9:22AM in Financial Management - PSFT (MOSC) 2 commentsAnswered ✓

Scenario: After closing FY 2017, you've run the GL Close, and that creates the beginning balances for period 0 of FY 2018.

When you go back to FY 2017 and use period 998 for an adjusting entry, how do the beginning balances for FY 2018 get updated?

I tested this and period 0 for FY 2018 does not get updated to reflect the adjusting entry for FY 2017.

Thanks!

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