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author's profile photo Former Member
Former Member

Special Period

Hello Experts!!

I am having one confusion regarding special period.

Example:

Our fiscal year is from January to December.

Suppose we have carried forward the all balances of GL, Customers and Vendors for the Year 2007.

Now we have posted the entries in the year 2008. At present, settings in OB52 are as follow.

From period (11-2008) To period (12-2008)

and for special period (13-2008 to 16-2008)

Now my question is, according to above settings, still we can make the adjustment postings in the December, 2007. am i right?

if yes then, will they affect the opening and closing balance of 2008?

Now another question, if we carry forward the balance of 2008 and we want to make the adjustment posting for December, 2007 then the system will allow me to do adjustment posting after doing the following settings?

From period (11-2008) to period (12-2008)

Special Periods (13-2009 to 16-2009)

Please clarify this situation.....

Regards,

Jimmy

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3 Answers

  • Best Answer
    author's profile photo Former Member
    Former Member
    Posted on Nov 22, 2008 at 06:13 AM

    Hi

    Special periods are used for adjustment posting for the last period of your fiscal year.

    Carry forward needs to be done once and the subsequent adjustments will automatically be taken care of.

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    • Former Member Former Member

      You can forward the closing balances once the fiscal year is closed. And closing of fiscal year means, closing of posting as well as special periods.

      You will not be able to pass any adjustment entry after forwarding the balances And it is not advisable to reopen the fiscal year once it is closed after making adjustment entry.

      Regards

      Mohit

  • author's profile photo Former Member
    Former Member
    Posted on Nov 22, 2008 at 06:15 AM

    You can carry forward the balances only after adjustment entries have been passed in the books.

    Please note, closing of fiscal year is different from closing of posting periods & special periods.

    Regards

    Mohit

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  • author's profile photo Former Member
    Former Member
    Posted on Dec 20, 2008 at 08:50 AM

    Closed

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