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Period End Closing

Hi expert,

Are there any possibility to perform manual period end closing entries? What is the effect on the financial reporting?

Thanks,

ArlmiPJ

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  • author's profile photo Former Member
    Former Member
    Posted on Feb 09, 2012 at 05:59 AM

    Hi ArlmiPJ.........

    When you do Period End Close all the P&L Balances gets shifted to Balance sheet and P&L becomes NIL. After that if you still need to perform any entries then you can do it under that posting period......

    Regards,

    Rahul

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  • Posted on Feb 09, 2012 at 11:31 AM

    Hi,

    Period End Closing is function to confirm that the fiscal period or the defined posting period has ended and the balances are moved from the profit and loss account to the Period End Closing Clearing account on the last day of the year and on the next day of the new fiscal year from Period End Closing to the Retained Earnings account.

    Period End Closing canno tbe performed based on Projects or Profit Centres.

    Kind Regards,

    Jitin

    SAP Business One Forum Team

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