44
The feature "Awareness between ledger settlement and year-end close"
Enforces the users to settle on the same account and same year.
At the year end user must settle the open account against the year-end closing transaction.
This feature solves so many problems in closing the year and revaluation.
The only problem with this feature is that if you made cross-year settlements in previous years the feature doesn’t allow you to proceed.
I hope that this feature will be upgraded, and a new parameter will set the validity of the feature so I can use it, since there is no way I can open settlement from the last three years.
STATUS DETAILS
Declined
Administrator on 10/1/2024 1:56:37 PM
The 'Awareness' feature does require there be no ledger settlement across fiscal years, but ONLY for the current fiscal year being closed. For example, you have fiscal years 2020, 2021, 2022, 2023 and 2024. The YEC has been done for 2020 through 2023, but 2024 is still open. Let's say there are ledger transactions settled across all the fiscal years listed.
When you run the YEC for 2024, the only year that cannot have cross-year settlement is 2024. A new inquiry page was added to the Ledger settlement page to identify all the transactions for 2024 that are settled to any other fiscal year. If you have transactions in 2024 settled to transaction in 2023, they must be unsettled. But, if you have transactions in 2023 settled to transactions in 2022, you do NOT need to unsettle them.
In short, the ONLY year you cannot have cross-year ledger settlement is the most recent year going through the year end close. Historical years that have already gone through the YEC do not have to be changed.
There is no plan to change this because this is an essential part of how the YEC works for the most current year.
Th