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Year End Close Process

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Posted on by LaLaLee

Hi all,

I have a question related to the Year-end close process. When I ran the YEC, I still wondered how all the YEC vouchers formed, like the source that assisted the creation. (all vouchers that I mark in the picture below)

Screen-Shot-2566_2D00_05_2D00_31-at-10.28.55.png

Furthermore, about the button in the YEC template (picture below), if I turn the switch "Yes" = keep the balance at all dimensions and "No" = the system will only get the MainAcount and not convey the dimensions? Is that correct?

Thanks!!

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LaLaLee 4 on at

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Helppp!!

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Gaurangkumar Jani 4,546 User Group Leader on at

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Hi LaLaLee

Voucher number in Year end transaction is the same voucher you have provided while running YEC process as below:

Regrading your second question, there are Two Part:

1 - Balance Sheet Balance transfer - where you said "Yes" it means you will have opening balance on BS with dimensions.

2 - Profit and Loss Account - where you said "Close All" it means you will not have bifurcation of dimension on retain earning transaction.

Please let us know if this help.

Thanks,

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LaLaLee 4 on at

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Dear Jani,

Thanks for your answer! Besides, about the voucher I provided when I ran the YEC process. How do all that vouchers have their amount and journal number? How does the structure of the YEC process and how it functions to form all that information?

Second, about the button "Transfer balance sheet dimensions," I want to know the meaning when I turn it into "Yes" and "No."

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Gaurangkumar Jani 4,546 User Group Leader on at

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Hi LaLaLee

This entire journal is created by system. This amount is nothing but balance amount of previous year which is transferring to retain earnings or to same Account for BS account.

I hope this answer your question.

Thanks,

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LaLaLee 4 on at

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Dear Jani,

I still have questions related to the YEC process.

In the 1st picture, when I ran the TB for 12/31/2021.

Then I ran the YEC process for 12/31/2021

When the YEC was processed, I ran the new TB on 1/1/2022 to check up on the retained earnings to observe whether the sum of OB in 2021 equals the OB in 1/1/2022 or not. However, the main account 180200 in 2021 (Accumulated Depreciation - Tangible Fixed Assets) still be in the new TB in 2022. Does this mean the MA not in the Revenue and Expense type will stay the same?

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Gaurangkumar Jani 4,546 User Group Leader on at

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Hi LaLaLee

If I am not wrong, this account is Balance Sheet Account and not P&L, right? If this is Balance Sheet you, this is right treatment as this is balance transfer to new year. If this is P&L please check your account type in main account and try to re calculate the balance.

Please let us know if this helps.

Thanks,

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