How to update new opening balance in new fiscal year after closing balance been transferred?

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Posted on by Rebecca Lok

Hi,

For FY2018, I have transferred the closing balance to FY2019. However, our company external accountant came back to us with further adjustment, hence the current closing balance inf YF2018 and the opening balance in FY2019 is different. How do I update the difference between the two?

Thanks.

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Ludwig Reinhard Microsoft Employee on at

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RE: How to update new opening balance in new fiscal year after closing balance been transferred?

Good morning Rebecca,

Just post your adjustment in 2018 and then run the year end closing process again.

This should do the job.

Best regards

Ludwig
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André Arnaud de Cal... 291,219 Super User 2024 Season 2 on at

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RE: How to update new opening balance in new fiscal year after closing balance been transferred?

Hi Rebecca,

You can run the transfer multiple times. Depending on GL parameters, it will delete the opening transactions and recreate them, including additional postings done in the old fiscal year or it will create appending transactions.