If you are setting up the General Ledger module in mid-fiscal year, and want to record activity for each closed period of the current year, complete these steps.
Before You Begin
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Make sure you entered beginning balances for each account. For instructions, see Enter Beginning Balances.
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Obtain a General Ledger Detail Report for each closed period of the current year.
To enter data for periods
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Select File > Change Date.
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In the Change Accounting Date window, enter the accounting date. For more information, see Change Accounting Date - Fields.
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Select General Ledger Setup menu > General Ledger Options.
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On the Main tab, set the Current Period and Current Fiscal Year fields to the first accounting period of the current fiscal year. For more information, see General Ledger Options - Fields. Click Accept.
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Select General Ledger Main menu > General Journal Entry and then perform the following:
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In the Source Journal field, select the source journal to record activity.
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Enter the account number and activity from the General Ledger Detail Report for the first period.
Note When making journal entries for a period, use the activity amount for each account. Do not use the ending balance.
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In the Journal Comment field, type Balance for Period [X].
For more information, see General Journal Entry - Fields.
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Print and update the General Journal.
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Perform period-end processing. The current accounting period and current fiscal year end date cycle to the next period.
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Repeat the steps in General Journal Entry through period end processing using the activity information from each closed accounting period until you reach the period you want to begin routine processing at.
Your General Ledger system is updated with data for each closed period of the current fiscal year.
