Skilled Nursing Facilities

Click Fiscal Calendar Setup.

Under GL, click edit next to the fiscal year you want to post adjusting entries to.

Click open next to Period 12, Adjustment and Closing Entries. Click Save.

Go to Setup, click G/L Configuration.

Select Posting to Previous Years option to allow posting to previous year.

Go to the General Ledger > New > and create a new Batch called Adjusting Entries and the fiscal year end you want the entries to be posted to.

Any adjusting journal entries after the year end close should be entered and posted to the adjustment period in that Fiscal year. When making your entries, use an effective date of the last day of the previous fiscal year that you closed and then click the period selection box and select ADJ. Make sure the year shows the fiscal year you closed.

When you post the adjusting entries, the system automatically generates a closing entry for any Expense and Income accounts in that entry and moves them to the Retained Earnings account. It resets any Days/Units accounts to Zero. Using the ADJ period lets you print your monthly financial reports as they were originally submitted, but also lets you run a final set of financial statements that match your final audited financial statements.

After you complete all adjusting entries, from the GL/AP menu click Setup and click Fiscal Calendar Setup under the Organization Setup section.

Click edit for the Fiscal 2014 and for the Period 12, Adjustment and Closing period, click Closed and then click Save.

From the GL/AP menu click Setup and click G/L Configuration under the General Ledger Setup section.

Click Posting to Previous Years to not allow posting to a previously closed year. Click Save.