Tech Tip: Recording a Prior Year-End Adjusting Entry

I want to record a prior year-end adjusting entry; however, the Prior Year-End Adjustment journal entry type option is disabled in the Journal Entry Transactions function. How do I proceed?

Verify that the prior fiscal year’s year-end adjustment period for the GL module is not restricted for posting. To remove the posting restriction for the prior year’s year-end adjustment period, perform these steps:

1. Access the Posting Period Restrictions function from the GL Housekeeping menu.
2. Select the prior year in the Fiscal Year field.
3. Unmark the checkbox under the GL column for the year-end adjustment period.