When should the Holding current year open option be checked off?

Owned by Knowledge Assistant
Last updated: May 08, 2024 by Moriah Yorkey
1 min read
Description of Issue

  • When should the holding current year open option be checked off?

  • Before running Close Current Fiscal Year, should GL Settings have Holding current year open option selected?

Context

  • General Ledger Settings

  • Close Current Fiscal Year

  • Holding current year open

Cause

Resolution

  • The 'Hold current year open' option in General Ledger Settings should be checked off when the site begins entering transactions into next year.

  • It should remain checked when the site closes the year.

Additional Information

After closing the current year and opening the new year the holding current year open option will no longer be checked.

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