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Why can I record a Capital Asset Purchase (C+) or Sale (C-), a Receivable Payment (RP) or a Payable Payment (PP) in a new year?

April 26, 2017ASSET C- Capital payment purchase receivable record rp sale

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Why can I record a Capital Asset Purchase (C+) or Sale (C-), a Receivable Payment (RP) or a Payable Payment (PP) in a new year?

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A. All versions prior to 2007-01 require you to “Complete” the year-end procedure for the old year before recording these types of transactions.