Hello All,
I found the way that how to close the current fiscal year and move to next fiscal year
1) we need to posted all journal entries.
2) Accounting>>Periodic Processing>> End of period >>Close period.
By using close period action we can close all the periods if all entries are posted sucessfully.
3) Accounting>>Periodic Processing>> End of period >>Generate Opening Entries.
This is pop up the wizard for closing current year and opening next year entries.
What default account should be set on opening Journal.
Till this I am reached now Just hang on default account for Opening journal entries.
The Opening Journal wizard these for info.
1) year to close - done
2) new fiscal year- done
3) Opening Journal entries- (Here what to set as default accounting entires.
4) Default period come for next fiscal year.
Need little push on this.
Regards,
Anil Kesariya.