Year End General Journal Closed

[The_Hat_TX]

I know that you have to close the A/P module and the G/L to be able to write checks for the new year.  What if you are not finished posting entries to the prior year, but have current year checks?  For example, I have to write 2021 checks but I'm not done with the 2020 bookkeeping.  If you close the G/L for 2020 to be able to write 2021 checks, will it post any entries that you have for 2020?  I know it retains 2 years of the G/L, but if it closes everything to retained earnings when you close the prior year, will it allow you to continue to post adjustments for 2020 and carry those over to 2021?  I need to write checks for 2021, but I still have entries to post to Dec 2020.

Please help

[wjgutcpa]

If it is for the most current prior year, you just have to reclose when going back to the current year. That has been my experience with the payroll module.