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E1: 09: Frequently Asked Questions on the Annual Close Report (R098201) (Doc ID 664687.1)

Last updated on JULY 21, 2020

Applies to:

JD Edwards EnterpriseOne General Ledger - Version XE and later
Information 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

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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?
 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?
 Question 7: Account Balances stored by currency are part of the JDE feature. However the Annual Close - R098021 that updates the Retained Earnings account is missing a currency code in the Currency Code – From field (CRCD).
 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

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