How is the Closing period adjustment column calculated

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Posted on by Sean The Michael

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Good day,

Is anyone familiar on how the Closing period adjustments column in General Ledger > Trial Balances calculated?

Would appreciate if anyone can send me a MS documentation about this column.

Thank you.

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Ludwig Reinhard Microsoft Employee on at

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Hello Sean The Michael,

The amounts that you see in the closing period adjustment column origin from the closing period adjustment form/sheet that you can find in the year end closing section in GL.

Any correction that is for example requested by your auditors can be posted in the closing period adjustment form/sheet.

Those adjustments become then visible in this column.

Best regards,

Ludwig

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Sean The Michael 139 on at

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Thank you for this answer, will check on it.

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Sean The Michael 139 on at

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Hello Ludwig,|

Thank you again for your answer the other day,

In addition to my query above, what is the main purpose of Closing period adjustments?

I am currently checking an issue with my ledger closing balances that are not 0, and I noticed that it plays a role in the calculation as per checking in the code. What is the main purpose of Closing period adjustments, and when is it used?

Thank you.

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