An improvement to get an improved year-end Closing process:

Year-end close doesn't consider settle transactions for closing and opening type transactions. The actual process, summarized balance sheet dimensions and create closing and opening type transactions, one transaction for each dimension combination not balanced.

It happens often on a bridging account that dimensions come from vendor payment, but the dimension from the bank payment (make in GL) are not coming, while this transaction is settled in ledger with the vendor payment. Thus, bridging account is not balanced in all dimension combination and each year, opening and closing transactions are created for each dimension combination not balanced even if transactions are settled.

To improve the process and account visibility with year end close transactions, it should transfer only transactions not settled.
Category: General Ledger
Needs Votes