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09 July 2024

Accounting Calendar...Did You Know?

Two extra Periods are built into the Accounting Calendar. Once period 202412 is open, the next period number for FY24 is 202413. It can be used for fiscal yearend journal entries including auditor’s adjustments. The last period for FY24 is 202414. It is for Region 1 use only. We use this period to do closing entries. Closing entries zero the expense and revenues and move the dollars to the fund balances.
Note that for periods 202413 and 202414, the GL is the only application that can be set to Open. And, the GL for these periods has to be open before the first period of FY25 can be open which is period 202501.



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