Recalculate Closing Balances

Recalculate Closing Balances

From the menu select General Ledger > Administrative > Recalculate Closing Balances

This process will re-calculate the Closing Account(s) balance for each accounting period. The process is used in the event that the Balance Sheet Closing Account(s) do not agree with the comparable period income/expense statement. Several things may cause the out-of-balance condition - machine or software abnormal operation or changing G/L accounts from the Balance Sheet to the Profit & Loss Statements are the most common reasons. In any case, this process will re-calculate the balances in less time than it takes to run a General Ledger Report.

Important Note: Do not run any posting processes while this program is running.

1. Review the warning message.
2. Click the Process button to recalculate the balances.