SELECT GENERAL LEDGER THEN SELECT
This is the screen in Retail Advantage
POS Software and
Point of Sale
Software where you can close the general ledger system
up to a certain date.
Closing the GL is basically indicating what date you do not want any
more data entered prior too. This is important
if you have already generated financial statements and given them to outside entities like
banks and government agencies.
You can enter or delete invoices in a prior GL period. You can not enter bills, checks or bank
transactions in prior GL period. You can not
enter or delete journal entries in a previously closed period. You can not process payroll in a prior period.