Has anyone hard closed a prior year after six years?  Does anyone know if we will encounter any problems if we perform a hard close of year 2002 in 2009?  Any warnings or suggestions on how to proceed would be appreciated.  (Our organization has always soft-closed each month to prevent recording in a previous month, but has never done a hard close.).

Thanks,

Marlene

Hi Marlene,

You should be able to hard close that fiscal year in 2009 without any consequences.  All of the reports in the Financial Edge mock close so that 2002 activity is rolling forward even when you run your current reports.  Keep in mind that when you do a hard close you can never open that fiscal year again!

 Thanks,

Josh

Thank you Josh.  Our reports match our audited financials for that year so we don't anticipate the need to open that fiscal year again.

Marlene