E1: 09: Frequently Asked Questions on the Annual Close Report (R098201)
(Doc ID 664687.1)
Last updated on APRIL 04, 2024
Applies to:
JD Edwards EnterpriseOne General Ledger - Version XE and laterInformation in this document applies to any platform.
Purpose
This document contains some frequently asked questions and answers on the Annual Close Report (R098201).
NOTE: For additional information on the Annual Close Report (R098201), you may refer to <Document 664688.1> Overview of Annual Close Report (R098201).
Questions and Answers
To view full details, sign in with your My Oracle Support account. |
|
Don't have a My Oracle Support account? Click to get started! |
In this Document
Purpose |
Questions and Answers |
General Questions |
Question 1: A Company has already closed its fiscal year. Can a particular year be closed again? |
Question 2: How is the F0902 affected if R098201 report is submitted multiple times? |
Question 3: Can the Annual Close be run in proof mode? |
Question 4: Can the Annual Close be run if the company is not in balance? |
Question 5: Is the Annual Close dependent on the company’s current period and fiscal year in the Company Names and Numbers (P0010)? |
Question 6: What are the ramifications of ending the Annual Close prior to a successful completion? |
Question 7: Is it possible to run Annual Close for past years only for certain accounts without affecting the Retained Earnings? |
Question 8: What is the difference in logic while processing balance sheet accounts and income statement accounts during annual close run? |
Question 9: What is the standard process to perform annual close for Accounts Payable and Accounts Receivable before closing General Ledger? |
Question 10: How do I prevent calculation of retained earnings for a specific ledger type when running Annual Close? |
Question 11: Why is there a difference in Retained Earning amounts when re-running the annual close? |
Question 12: Is it necessary to run Annual Close after office hours when users are not log into the system? |
Question 13: Can R098201 close program clear budget figures for balance sheet accounts? It does clear the income accounts. |
Question 14: Can I run the Annual Close over multiple companies? |
Question 15: Does the Annual Close create a journal entry to show the actual Profit/Loss close-out to Retained Earnings? |
Question 16: How to create Retained Earnings Beginning Balances for a company migrating to JD Edwards software? |
Data Selection and Processing Options |
Question 1: What data selection is recommended while running the annual close ? |
Question 2: How do you determine the fiscal year for data selection, if you are not running on a calendar year? |
Question 3: How does the processing options (Zero Balance Accounts/ Profit & Loss) for Annual Close report relate to the Job Cost module? |
52 Period Accounting |
Question 1: Are there any specific recommendations for performing the Annual Close for 52 Period Accounting? |
Common Issues |
Question 1: After inactivating accounts and business units (no longer required), will retained earnings still roll up correctly after running the annual close? |
Question 2: Why do income statement transactions in another ledger type, such as GP, not post to the retained earnings account? |
Question 3: During auditing, client has found certain entries that had been posted to the GLG4 Retained Earnings account. How to avoid this in future and how can these be corrected? |
Question 4: Why does the ending balance from previous year not match the beginning balance for current year after running the Annual Close? |
Question 5: The Annual Close was run by mistake for a future fiscal year. Is it possible to undo the updates the report created in the F0902? |
Question 6: Why does Annual close not update CA ledger for the following fiscal ledger, if the CA balance shows zero for the previous fiscal year? |
Performance |
Question 1: How can I improve the performance of the Annual Close? |
Security |
Question 1: What security should be applied after closing a financial year to prevent users from accessing the closed year data? |
Print Output |
Question 1: Is it possible to get a summary of each account on the Annual Close report rather than multiple pages of detail or just one line item? |
References |