created a year end closing entry and wanted to void the transaction. I am getting and error “Posting into a closed period is not allowed”
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Period 13 is open (date allowed 12/31/2024)
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Period 12 is closed - because adjustments should not be made in period 12
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do not want to open this period. Closing entries as I understand will need to post in 13th period.
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Opening the period 12 could result in a user accidentally post against period 12 in stead of period 13
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I opened period 12, and posted the the void. The void posted against period 13.
- Why then does period 12 needs to be open as well?
