(GL – General Ledger Setup – Clear Account Balances)
This screen is used on system startup day (or accounting startover day) to bring all your account balances down to zero. This clears the general ledger of any account balances just before new beginning balances are entered.
Account balance clearing is accomplished through a batch journal entry for each fiscal year involved that is automatically created and posted by this screen. Each account with a debit balance is given an offsetting credit for the same amount and each account with a credit balance is given an offsetting debit for the same amount.
NOTE: This will zero out all prior fiscal years in DBA and you will no longer be able to generate financial reports prior to the Clear Account Balance date.
If you run this by mistake:
If you run Clear Account Balances by mistake, go to the Journal Entry screen and reverse each fiscal year’s journal batch, which is done as follows:
| • | Select the Posted checkbox in the lower panel of the List tab. |
| • | Highlight the Journal No. |
| • | Click the Reverse button. |
Screen Details
NOTE: If any un-posted transactions exist, you are denied access to this screen and are advised to run the Batch Posting screen.
Journal Date
Select a date that is the last day of the period prior to system startup day.
Update Button
Click this button to create and post a batch journal entry for each fiscal year involved.
Preview Button
Click this button to preview the posting transactions on the screen prior to update processing.
