1. You can Pass adjusting journal entries on adjusting period
2. You can identify the Adjusting journal entries based the Adj. Period
3. If you want to close one period before adj. period and you can pass adj. journal entries on the Adj. Period.(Audit Journal Entries)
Adjusting Period is not a Must in Calender. It is based on your company policy
thanks for the reply....
but can you give me a business scenario where the company is required to keep adjusting period.
Also why a company needs to enter the adjusting journals.why adjusting journal arise in business.
thanks and regards,
Auditors found out/they need some rectification/Company wants to rectify error or adjustment. Normally people will do it at the end of the month/end or quarter or end of the year. This adjustment entries you can pass it in the adjusting period and you can track it.
FYI all :
An Enhancement Request (ER) was raised to follow this possibility.
ER <<Bug:12562310>> - UNABLE TO RUN OECD SAF-T (JEOECDGD) FOR PERIOD 13 GL (ADJUSTING PERIOD)
Also the following Note was opened for this matter:
- Unable To Run OECD SAF-T (JEOECDGD) For GL Period 13th (an Adjusting Period) (Doc ID 1337385.1)