Tech Tip: Posting Prior Year Transactions After Fiscal Year-End Closing

Can I post prior year transactions after Fiscal Year-End Closing?

Yes; you can create a prior year-end adjustment entry using the Journal Entry Transactions function by selecting the Prior Year-End Adjustment journal entry type. Specify the appropriate Retained Earnings GL Account ID. If the Prior Year-End Adjustment option is disabled, then verify in the Posting Period Restrictions function that the prior year’s year-end adjustment period is not restricted for posting. Save the journal entry batch; then, post it using the Post JE Batch to GL function.