Reopen a Prior Fiscal Year

There may be times when you need to reopen a prior fiscal year to make a journal entry.

NAVIGATION: MAINTAIN menu > Accounting Period Master

  1. Using the Segment field, select the Accounting Period/Fiscal year
    1. Verify that the correct year has been "selected"
  2. In the Period grid, find the last month of the fiscal year.
  3. The last column is LOCK MODE which will have the value LOCKED ALL.
  4. Double click the LOCKED ALL value to display the selection down arrow.
  5. Click the arrow and select either OPEN ALL or OPEN JOURNAL ENTRY.
    1. OPEN ALL will open this period for all entries, including AP and Journal Entries.
    2. OPEN JOURNAL ENTRY will open this period for Journal Entries only.
  6. Click SAVE
  7. The next years beginning balances will not reflect the changes until this year has been closed again.
  8. The Trial Balance report will show the error *C***Accounts Need Prior Year Closing*** until it has been re-closed.
  9. When you are ready to close this fiscal year again, follow the steps in Close a Fiscal Year 

12/2024

NEED MORE HELP?  Submit a ticket to the Help Desk or call (814) 535-7810 or (800) 889-3388