• DM
  • Member
  • Offline
  • Registered: 09/26/2007
  • Posts: 14

Topic: Journal Inquiry: Show closed

Hello,

When using the Journal Inquiry, I noticed that it did not pull up all the entries we've entered into FA.  However, when I clicked the show closed box, it pulled them all up.  I have no idea why some of the entries are considered closed and some are not.  Can someone explain how an entry becomes closed and then will only show up in the inquiry when 'show closed' is selected?

Thanks,
Courtney

  • Registered: 12/25/2007
  • Posts: 2,446

Re: Journal Inquiry: Show closed

Currently this is done only during fiscal year close, when all transactions belonging to the closed year are also closed. Closing transactions is necessary to prevent change of gl postings sequence in reports, which can appear after transaction edition.

Janusz

3 Reply by thhui (edited by thhui 06/02/2010 11:03:26 am)

  • thhui
  • Senior Member
  • Offline
  • From: Hong Kong
  • Registered: 05/20/2009
  • Posts: 63

Re: Journal Inquiry: Show closed

Sometimes, we need to post entries into different fiscal years.
This is common as we might make adjustment just after year end.

Now Front Accounting just give us one fiscal year active.
We have to change it back and forth in order to input the journal entres in different fiscal years.

Cou.ld it be better allowing at least 2 fiscal years active instead of one at the same time?

Besides, we might need to have a locking option on some period (not just the whole year, it might be one of the month end during the fiscal year) so that it would not be too easy for us to input some transactions in wrong period during the fiscal year.

Could this be done as we might not bother to close the fiscal year either?

Thanks for the FA Development Team in advance!

  • From: Canada, BC, Chilliwack
  • Registered: 04/20/2010
  • Posts: 22

Re: Journal Inquiry: Show closed

Once your year-end adjustments are completed (usually as a result of year-end inventory and reconciliation), why would you need to go back into previous fiscal years to make more adjustments? It seems to me that any adjustments you make once your fiscal year has been closed should effect the current year. Perhaps I'm missing something? Can you give an example why you would need to adjust something after you've finished with your year-end reconciliation?

5 Reply by thhui (edited by thhui 06/01/2010 07:16:10 pm)

  • thhui
  • Senior Member
  • Offline
  • From: Hong Kong
  • Registered: 05/20/2009
  • Posts: 63

Re: Journal Inquiry: Show closed

We must do all the routine accounting jobs monthly.

Now the fiscal year limit it to just one year.

And after the year end month, say December 2009,
It is now January 2010, and we must still miss something  to make accrual adjustments, like depreciation, tax adjustment, all the late ajustments for bad debt after year end, say up to March 2010 before the audit have finally closed the account.

During this period, we are in 2nd year, and the 1st year has not yet finished.

We have 2 fiscal years active and open for our imput.
The January to March 2010 routine work still have to take up monthly in addition to 2009 year end closing matters.

So we end up in 2 fiscal years.

But now, we only get 1 fiscal year open and active at one time as stipulated by frontaccounting.
So, we must change it back and forth to switch into correct fiscal years.

This is too much in trouble and burdersome.

Furthermore, we might need  to prevent arbitrary wrong posting of  certain periods other than the 1st month. So it becomes vital for FA to have an option for the SuperAdmin to control this key point.

Pls help!!!