Transfer Preliminary IL Balances

Explanation

Use this activity to transfer the closing balance from one accounting year to the opening balance for the next accounting year. A preliminary opening balance can be transferred to the next accounting year an unlimited number of times. When a balance amount is zero ( 0), it is not transferred to the new balance. When this activity is performed, all IL balances are transferred.

No vouchers are created with this activity.

Prerequisites

Internal ledgers must have been created and vouchers must exist for the periods you are using for preliminary year-end balances.

System Effects

As a result of this activity, the preliminary transfer will update period zero (0) with opening balances for the new accounting year.

Window

Preliminary Year End IL

Related Window Descriptions

Preliminary Year End IL

Procedure

1. Enter the accounting year from which you want to transfer the closing balances. Enter the accounting year to which you want to transfer the balances. Start the transfer by clicking OK. A message will appear when the transfer is complete.
2. Click Print to print the report to verify the transfer. You also can view the report on screen by clicking Preview. The report can also be found under Archived Reports.