One of our clients has accidentally closed the current fiscal year. Is there a way to reopen the fiscal year that’s closed? Thanks in advance
It’s just to uncheck the field “Locked” in table 50 “Accounting Period” for the periods You want to unlock. You need to create a report to do this.
Also you need to go back and review if any entries were posted into the closed year, since they will be flagged as such, and will cuase you an auditing nightmare in years to come.
For entries were posted into the closed year, there is a flag in G/L entry table “Prior year entry”. U need to wirte a report to uncheck that flag with appropriate filters. Cheers
Actually I cannot se the problem here. The field is not used for anything else than just mark that the posting was made after the year was closed. The post is considered as a “usual” post. All right - if you (or the accountant) use the info for some specific purposes, then change it else leave it.
Closing the year really isn’t anything to worry about. You will get “prior year entry” flags, but it doesn’t really change anything. Don’t worry about it.