Can I leave the general ledger open beyond the year-end date?
Yes. The general ledger can be left open indefinitely. Transactions can be entered and inquiries and reports can be run for the previous year, the current year, and the next year. The system uses the period start/end dates set up on the General Ledger Control Record to define the current year, which in turn determines the dates of the previous year and the next year. We suggest that you close the current year as soon as possible. The system allows you to post transactions and reprint reports for the previous year even after it has been closed.
