Use the Prior Period Update program to update GL account number ending balances according to the journal entry transaction amounts entered through the Prior Period Journal Entry program.
Run this program only after you have made prior period entries and printed the journals.
The system runs the update process only for the prior period you enter. Updating involves adjusting the affected account ending balances according to the transaction amounts in the journal file.
The periods affected are: the selected period, all closed periods between the selected and current periods, and the current period.
The journal records for this period are then removed (updated to journal history file if journal history is stored). Since the only hard copy of the journal entries involved in the update is a journal print, the update does not run until you respond affirmatively to the question: Has a journal print for this period been printed? You must print the journal entries for the prior period before updating.
To access this program, click General Ledger> Journal Entry> Prior Period Update.
Click field descriptions for information on each field.
See also
Updating GL account number ending balances for prior period journal entries