<![CDATA[FrontAccounting forum — CLOSING YEAR-END ISSUES]]> https://frontaccounting.com/punbb/viewtopic.php?id=10167 Sat, 29 Apr 2023 11:07:31 +0000 PunBB <![CDATA[Re: CLOSING YEAR-END ISSUES]]> https://frontaccounting.com/punbb/viewtopic.php?pid=42337#p42337 Closing period (at a certain date) and closing a whole fiscal year are both different in FA. The screenshot you shared is for closing a period (which can not necessarily be a FY). Closing fiscal year auto calculates the profit and posts it in the equity and also posts a JV

Profit and loss DR
Retained Earning/Equity CR

While on the other side closing the period only locks entries at and before the given date.

If you are looking for the FY closure
1. please goto to Setup->Fiscal year
2. Click on the edit button of the fiscal year you cant to close
3. Set Is Closed: as YES
4. and Upodate

this will close the fiscal year and post the JV aswell

]]> Sat, 29 Apr 2023 11:07:31 +0000 https://frontaccounting.com/punbb/viewtopic.php?pid=42337#p42337 <![CDATA[CLOSING YEAR-END ISSUES]]> https://frontaccounting.com/punbb/viewtopic.php?pid=41996#p41996 Perhaps there is a user error.  Perhaps.  But after working with FA for some time, it does not apparently know how to close G/L entries.  This is rather easy to do manually with an adjusting journal entry, but I'm wondering what the trick is to get it to work.  Again, new users would be baffled by this.  Can anyone explain?  I left an example [picture] here --->  https://imgflip.com/i/797pxb

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