Background: Closed Period Adjustments

Use the Closed Period Adjustments (GIC) program to enter a general journal adjustment or correction to a closed period, optionally using short format, change an existing journal entry, and print the Journal Adjustments Register. See Road Map for work flow.

This topic has these subtopics:

Verification
Preview and Final Register

Verification

Before you can update, the register verifies that:

  • All GL accounts are active.

  • All dates are within closed periods.

  • The debits and credits for a consolidation code and period are in balance.

Preview and Final Register

When you print the Journal Adjustments Register, these documents print in this order:

Seq

Document

Comments

1

Preview register

Review to be sure that it is correct.

2

Preview journal

If these options are selected:

  • Print journal after register? option in the System Options Maintenance (XM) program (GL Journal Options)

  • Print GL jrnl in preview mode? run time option in this program

3

Final register

If this option is selected:

  • Allow final reg upd? for this user in the User Maintenance (UIM) program

4

Final journal

If these options are selected:

  • Allow final reg upd? for this user in the User Maintenance (UIM) program

  • Print journal after register? option in the System Options Maintenance (XM) program (GL Journal Options)

The register includes this information:

  • Transaction number

  • Transaction date

  • Description

  • Reference

  • GL Organization code

  • GL account number

  • Account description

  • Debit amount

  • Credit amount

  • Description 2