Current G/L Period shown is 1/31/2006? 1

[yolar]

Hello again. At the A/P Module, Invoice Register, it shows the current G/L period is 3, ending 1/31/2006. It has the message "Notice: This A/P posting date falls into a future G/L period". I just started work at this company, and the person who deals with MAS 90 says that as far as she knows, it has caused no problems, but I do not feel comfortable keeping it as is. Should I change it to the current period ending Oct 31, and how do I do this?

Thank you for your assistance.

 

[BigLouie]

First DO NOT do it on your own. The head accountant, CPA or CFO should do this. In MAS you can keep the GL open for up to two years if you like. Many companies do as this allows them to go back and make the small corrections that happen from time to time. The various modules should be closed every other month as MAS can only keep two months open at at time. The current and one future month.

Now if the current open A/P month is October 2005 then you have a real problem.

 

[yolar]

I meant to say the current open month should be ending 8/31.

So I'm going to leave the info as is, since it's been like that since forever.

 

[BigLouie]

IF you current AP open month is August then you are fine. You can keep it open until September 30. You cannot do any October postings until August is closed.

If the current AP month is August 2006 and the current GL month is January 2006 then you are fine. As I said this would allow you to go into the GL and make any small corrections that might come up during the year.

By the way it is NOT possible to open a closed month.