reversing entries at fiscal year end

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Posted on by Rebecca Morris

I am a newbie at this. We are nearing our fiscal year end (9/30/12) and are booking month end journal entries for our reversing accruals. I assume that I have to open a new fiscal year in Dynamics in order for the reversing side of the entry to post. I just wanted to make sure that this does not cause a problem since the current fiscal year is not closed out. Another way to state this is - is it okay to have 2 fiscal periods open at once?

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iruser 527 on at

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hi Rebecca

you can have more than one year open yes, just watch your balance sheet accounts that wont have the right balances rolled forward.

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