Open Up Closed Accounting Year

Explanation

Use this activity to open up a closed accounting year for a selected ledger. 

Prerequisites

To open a closed accounting year,

• It should not be in a finally closed state.
• The opening period of the following year should not be closed.

System Effects

The year's status of the ledger will be changed from Closed to Open. 

If the rolling of year end balances has been performed as balances only, the final year end is rolled back and the closing balances will be changed from Final Balance Transferred to Preliminary. The opening balances for the following year will be changed from Final Balance Transferred to Preliminary. 

If the rolling of year end balances has been performed with year end vouchers, two rollback vouchers are created. One voucher will be for the rollback of the closing balance of the year and one voucher will be for the rollback of the opening balance of the following year. When the rollback vouchers are updated to the general ledger: 
* The closing balances will be changed from Final Voucher Created to No Closing Balance. 
* The opening balances for the following year will be changed from Final Voucher Created to No Opening Balance. 

Window

Accounting Periods

Related Window Descriptions

Accounting Periods

Procedure

Use the following procedure to open up a closed accounting year:

1. Open the Accounting Periods window.
2. Populate or query for the accounting year and the ledger you want to open. 
3. Right-click and then click Open Up Closed Accounting Year. If the rolling of year-end balances has been performed with year-end vouchers, a dialog box containing information about both the original year end vouchers and the rollback vouchers will display. Click OK. Another dialog box then will display more details about the new rollback vouchers. Click OK. 
4. The status of the year will now be changed to Open, but the periods will still be closed. The periods can be opened manually.

Note: All the internal ledgers connected to the given accounting year should be open before opening the closed accounting year for the general ledger. This activity will not be available for years with status Finally Closed.