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Year End Close and Bank Reconciliations

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Year End Close and Bank Reconciliations

Posted by DSC Communities on February 6, 2017 at 11:42 am
- Elizabeth Whitbread
  
  Member
  
  February 6, 2017 at 11:42 AM
  
  Am I able to close the year and then complete my previous year bank reconciliations or will this cause issues?
  
  GP2016
  
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  Elizabeth Whitbread
  Bridgepoint Consulting
  Austin TX
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- Bruce Strom
  
  Member
  
  February 6, 2017 at 2:34 PM
  
  From an accounting perspective, you should not close the general ledger until you need to, which is when you need to run a balance sheet for the new year.
  From a system perspective, closing the GL has no effect on the bank reconciliation.
  
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  Bruce Strom
  Programmer
  Associated Grocers of Florida
  sunrise FL
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DSC Communities replied 9 years, 2 months ago 1 Member · 0 Replies
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