Posting to a previously closed year

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I have a client who closed their year and then posted some transaction in the previous year. System posted no problem. No when she looks at the summary for an account the ending balance for 2011 is not the beginning balance for 2012. Does that make sense?

I have looked at the fiscal periods no problem as well as verified post to history being checked.

I found KB Article ID: 851423

It talked about wanting the adjusting entries to roll forward to adjust the beginning balances which is what they want but did not get. What can we do now to fix this?

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Frank Hamelly | MVP... 46,631 Moderator on at

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So, they closed 2011 and then subsequently posted into 2010?

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Community Member on at

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No Frank they closed 2011 than started on 2012. They posted some transactions for 2011 this month and the problem is that while the transactions posted they did not update the beginning balnces for 2012.

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Frank Hamelly | MVP... 46,631 Moderator on at

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Okay, understood now. Bottom line is - the 2012 Beginning Balances should have been updated upon posting the 2011 transactions. Do they still have the posting journals? If so, the posting journal should indicate the original entry + a clearing entry to clear the transactions to Retained Earnings.

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This may seem silly, but. Are you sure that the accounts she is looking at are Balance Sheet accounts and not P&L accounts. Only Balance Sheet accounts should have beginning balances updated by posting to a prior closed year.

Warren.

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Donnette Spencer 445 on at

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Is maintain history checked? (You must be maintaining both account history and transaction history to reconcile records for a historical year. ) If yes I'd try reconciling the GL after a complete back-up.

Tool>Financial>Reconcile. Begin with 2011 then 2012.

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I have tried running reconcile. Both boxes for maintain history are checked. All Acounts are balance sheet accounts. The entries were made the first day of the previous fiscal year which should not make a difference (Jan 1st 2011). All Balance sheet totals are brought forward correctly in 2012 except for the entries that took place after the year was closed. The ending balnce for those accounts as of Dec 31,2011 are correct for all.

It should be working, it is just not. Thanks for all the help with this so far.

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Donnette Spencer 445 on at

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Tom,

I've expereince this as well and it is very frustrating. There is a KB article on how to correct BB of an account. This KB articles discusses the RE account but the concept it the same - do a one sided entry into a dummy account. I then deleted the dummy GL afterwards support.microsoft.com/.../871658

I've also used a script to update SLQ in one company where we could not se the reconcile utility due to the fact that it does not have history detail (we moved it with company data archiver). If you want the update script let me know, however this should always be your last resort. Hopefully you have a test enviroment?

Good luck!

Donnette

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