Year End

Posted By Jaquila over 4 years ago

Our fiscal year end is August 31st and I have never processed a fiscal year end before.

Once I roll over to the new year, and I still able to post in the year prior should anything come up with an August 31st or earlier date?

As well, I would like to know the opposite of that. Should I have something come in with a September 1st date or later before I have processed the fiscal year end, am I able to post that transaction with a date in the new fiscal year?

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0 Richard S. Ridings over 4 years ago

Jaquila said:
Should I have something come in with a September 1st date or later before I have processed the fiscal year end, am I able to post that transaction with a date in the new fiscal year?

If you are using a version from 2013 or higher, then you can post General Journal and payroll entries into the new fiscal year before you move the session date to the new fiscal year. No other entries can be posted past Fiscal year end.
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0 Richard S. Ridings over 4 years ago

Jaquila said:
Should I have something come in with a September 1st date or later before I have processed the fiscal year end, am I able to post that transaction with a date in the new fiscal year?

If you are using a version from 2013 or higher, then you can post General Journal and payroll entries into the new fiscal year before you move the session date to the new fiscal year. No other entries can be posted past Fiscal year end.
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