Understanding the Entry Type for End of Year Adjustments

• Why and where would I use the End of Year Adjustments entry type?

Why and where would I use the End of Year Adjustments entry type?

The entry type End of Year Adjustment (A) is used to indicate adjustments made on the last day of your organization's fiscal year. This entry type is designed so that you can run your internal reports either with or without year-end adjustments.

End of Year Adjustments can be included or excluded in the following reports:

• Check/Voucher Register
• Journals
• General Ledger Analysis
• Accounts Payable (Summary A/P Ledger, Detail A/P Ledger, and Aged Payables)
• Accounts Receivable (Summary A/R Ledger, Detail A/R Ledger, and Aged Receivables)
• Allocation Management (any Pre-Allocation report)
• Budget (Detail Budget/Actual Transactions, Summary Budget Comparison, and Budget Worksheet)

End of Year Adjustments are always included in Financial Statements.