UNCHECK "ALLOW ACCOUNT ENTRY" for a P&L account and effect in YE Closing

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Hi all,

I asked this question in a separate trail but wanted to create a new post just in case the other one is not addressed. The question is about the GL Account Maintenance where "Allow Account Entry" is unmarked (this is for version GP10). If the account is a P&L account, will that still close out to the Retained Earnings? What happens is that we have P&L accounts that cannot be marked inactive because they don't meet all the requirements and we want to make sure they're no longer used in transactions. So we thought about using the "Allow Account Entry" option.

And if it's a balance sheet account with meets those requirements you mentioned for inactivating the account, will the balance roll over to the next year?

Thanks!

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MattPaulen 6,912 on at

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Yes, those accounts will still what they should do during year-end closing. The Allow Account Entry box is just to make is so a user can't manually make an entry to those accounts.

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Community Member on at

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Thanks Matt! That's the answer I was hoping for.

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