dear all,
in the Year-End Processing, our accounting department always do session Close Year - Provisional (tfgld6201m000) instead of session Close Year (tfgld6203m000). While in session Close Periods (tfgld1206m000) they never mark the Final Closing check box.

Is marking the Final Closing check box mandatory or is it sufficient to only close period without marking it? What possibilities could happen by doing it or not doing it? When do we have to mark it and when don't ?

Can we do Automatic Balancing of Profit and Loss Accounts (session tfgld6202m000) if we only do Close Year - Provisional (tfgld6201m000) instead of session Close Year (tfgld6203m000).

The problem we're facing now is we can't transfer the amount of last year's Closing Balance into this year Opening Balance.

Because nobody in our company really knows well the process & functions of Baan Finance, the situation now is like being lost in the jungle. :confused:

Please advice.....
Thanks.

best regards,
Richard Citra.

The close year provisional only updates the history total tables with the opening balance, the ledger itself is not updated. The provisional close is only temporary to allowe you to carry on working in the new year until you are ready to close the old year.

Once you have run the Automatic Balancing you should set the period status to final and run the final close to create the opening balance journals in the new year.

hi Maria,
your explanation is very clear.
I have forward it to our Accounting Department.
Now I guess they should know what they must do next.

Thanks.

best regards,
Richard Citra.