Closing Income Statement

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Posted on by Community Member Microsoft Employee

Hi Experts,

I have run the close income statement in test database the sales and expense still has a value/amount and the system did not recognize the net income for the year 2009.

What could be the problem in this?

Thanks in advance.

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Rabin 2,976 on at

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RE: Closing Income Statement

Hi bibeth,

You an do this using a Batch job as well

msdn.microsoft.com/.../hh167744(v=nav.90).aspx
Community Member Microsoft Employee on at

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RE: Closing Income Statement

Hi Nareshwar,

We are using the old version of Incadea V3.0 the procedure I made as follows.
1. From General Ledger - periodic activities - fiscal year - from the accounting period i checked the fiscal year column and closed.
2. From General Ledger - periodic activities - closed income statement - Check the ff:
   Business Unit Code
   Department Code
   Make Code
   Branch Code
3. Then OK

But this procedure doesn't have an effect.

Thanks,
Beth
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Nareshwar Raju Vane... 5,596 on at

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RE: Closing Income Statement

Hi,

If you want to address the potential problems then,

1. The date range that you have run is different that year 2009. Recheck the date period that you have run the income statement.

2. There are entries (possibly ledgers) got posted after you run income statement. Please check for that.

3. In Chart of Accounts, the "Income/Balance" option is not "Income Statement", it could be "Balance Sheet". Do check that as well.

Hope it helps.