To enter a journal entry into an adjustment or reclass period, you must be signed on to a business date which is the last day of your fiscal year.
Your date table must be set to allow Adjustment periods. See our knowledgebase document on How to add Adjustment periods.
After selecting a journal name, in the dropdown for Posting Action, you can select any adjustment period you have set up in your date tables or the reclass period. These will not be available if you are not on the last day of your fiscal year.
Note: You cannot import into adjustment or reclass periods.
Any trace reports generated will show an a1, a2, etc for the adjustment period or rc for reclass on the summary section period.
After adjusting entries have been made, they can be selected to be included on Financial Statement reports such as Trial Balances and Balance Sheets by using the dropdown for “Detail Period” and selecting adjustment1 through 4, depending on how many periods you have set in your date tables. The adjustment periods are cumulative, meaning if Adjustment 1 is selected, it will only have entries posted year to date plus that period. If Adjustment 4 is selected, it will have entries made year to date plus all prior adjustment periods.
This should be kept in mind when posting entries to these periods.
The same selections are available on Revenue and Expense Reports and Transaction Reports, such as Ledger and Account Detail.
At the bottom of the Production form there is also a radio button to include the reclass period. When that is marked it automatically changes the detail period selection to Reclass. It also includes all adjusting periods.
If you have not previously made use of adjustment or reclass entries, it would be a good idea to try this out in a test division to see if it meets your needs, by making journal entries and running the reports you normally print.