How to do year end closing postings

[Thomas Bayen]

Hi,

Have a happy new year together! :-)


after doing my year of accounting I have to wait for some external
informations that may take months (e.g. financial statements from
daughter companies etc.) then I give my numbers to my tax consultant. He
works with that and gives me some postings to "close the year". Examples are

* earnings from daughter/connected companies
* depreciation postings (using the right calculations depending on tax
status),
* distribution of profit to different kind of owners of my company
* some postings to fulfil laws I did not note in the daily business

I want to call these "Year end closing postings". These postings come
normally in the second half of the year following the business year (say
for example in July).

In my legacy accounting system these postings go to a special "transfer
period". This period is a kind of between December and January.


My question is: How do I account these kind of postings in iDempiere?

---> I can reopen the December period. (I have to change the setting
that allows to post only two days in the past.) But there are reasons
why the period is closed already. I made a tax declaration for december
based on numbers from the december period. And I want monthly statistics
about my operative business without the closing postings. It seems not a
good idea to change a closed period afterwards.

---> I can post them in the July period with accounting date July and
transaction date December. But then my financial reports will show me
all my yearly costs from last year in this one month and my monthly
statistics are wrong too.

---> I can do these postings in one of the periods and mark them with a
special accounting category (like "closing"). But there is no such
category in the standard database and no easy way to filter them out in
a financial report. And: My experience says that Jorg Janke would have
done that if this was his intention.


How do you do that? What do you think?


regards,

Thomas Bayen
--
Jakob Bayen KG, Bleichpfad 20-22, 47799 Krefeld
AG Krefeld HRA 416 Tel +49/2151/65 80 9-0

[Carlos Antonio Ruiz Gomez]

Hi Thomas,

What I usually do is to modify december period to go from 1 to 30, and
create a closing period on 31 - the type of this period is of type
Adjustment.

If you find issues using this adjustment period please report it (I
think we have had issues in past with this approach).

Regards,

Carlos Ruiz

[Nicolas Micoud]

Hi,

In my case i simply reopen the december period and add required GL Journals with a specific GL Category.

Carlos, why modifying the current december period ? AFAIK you can add a period in the current year which will start and end on the 12/31 (adjustment type).

Regards,

Nicolas

[Carlos Antonio Ruiz Gomez]

You're right, I was thinking in an old solved issue   :-)

[Satish Vijayan]

In some ERPs they have the 13th period for closing. I assume this is the same? 

Can an adjustment period overlap with a 'normal' period?

[Joseph]

'Normal' period is not allowed to overlap each other , but adjustment type yes. 

for example:

normal          12      xxxx-12-01                xxxx-12-31

adjustment   13      xxxx-12-01                xxxx-12-31

Joseph

[Nestor Andrade]

Hello Joseph.

i make your example:

normal          12      xxxx-12-01                xxxx-12-31

adjustment   13      xxxx-12-01                xxxx-12-31

I try to use the Period of adjustment on the journal generator process, before i close the normal period Dec-17 and open the adjustment period DecCierre-17.

And get the error:  Couldn't set docAction: PRPeriodo Cerrado journal

Can you help me, how to use de adjustment period?

[Marco Longo]

we create adjustment as 13th period  from   31/dec  to 31/dec