The General Ledger Year-End Closing window performs the bulk of actions required for the year-end processing of the Analytical Accounting module. When the year-end closing is performed, the following occurs:
- All the previous years' analytical data for each account is transferred to the history (when history is being kept).
- Analytical information for marked alphanumeric transaction dimensions for open year balance sheet accounts are brought forward as the beginning balances in the new fiscal year.
- Analytical information for marked alphanumeric transaction dimensions for open year profit and loss accounts is consolidated and transferred to the Retained Earnings account.
To ensure the analytical data is correct, balance brought forward transactions are created even if no profit and loss distributions exist for the year being closed and the profit and loss accounts' balances are zeroed.
- Balances are brought forward for unit accounts.
- The Analytical Accounting year-end closing report is printed.
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