Asset Account - closing

[Former Member]

Hi,

Normally first asset account to be close, followed by finance account. We already closed previous financial accounts but asset account is still open. Here we follow last 2 years of Asset account to be open. Now we got the error ANLB-LGJAN not equal to ANLC-GJAHR, (I already ran the program RACORR96, the asset was updated). I think to avoid this error last year asset account also need to close. When I close the asset account now, have I get any other problems, because last financial account was closed already.

Please suggest.

[atif_farooq]

Dear,

Closing asset accounting fiscal year is merely a technical step which doesnt have any implication on previous period closure. While closing asset accounting fiscal you merely carry forward balance to the next fiscal year for reporting purpose. I hope this will clear.

Regards