(ID# 8271) This G/L option in Options Configuration determines how your system will handle closed periods in General Ledger.
1 = All periods are still open. Transactions can still be entered into any period in both the current year and the previous year.
2 = Use the current date when posting "closed" transactions. Any transactions that would normally fall into a closed period will automatically have the G/L date set to today’s date by the G/L posting program. The date that fell into a closed period will be retained and stored on the system as the "Original Date." You can display the Original Date in the GL Detail Viewer. The GL posting reports (RGGG or RGJG) will indicate transactions that have had their date set to today’s date.
3 = Do not post transactions that have a transaction date that falls within a closed period. If there are transactions from a closed period in the general journal, the GL posting reports (RGGG or RGJG) will simply not post any transactions, even if there are only one or two offending transactions from a closed period. The posting report (RGGG or RGJG) will identify those transactions that are from a closed period. You will have to delete those transactions and re-add them with a valid posting date and then re-run the appropriate GL posting report.
If you set this option to either 2 or 3, make sure you also set up the option "Last Closed Date in General Ledger" (ID# 8269).