Our accounting department opened period 6 a few days ago and some transactions have been posted to it. Late yesterday management decided that we need to change the period end date. Accounting tried editing the end date, but it won’t allow it. The option exists to delete the period and warns about transactions. From research it looks like we may be able to delete the period, recreate it with the correct ending date and then run the Verify Balances process.
Is this the correct procedure? Any input on the Verify Balances process? We are not familiar with it and aren’t sure of the various options and what it ultimately does. Would we just run it against the period 6? I wouldn’t think we would want to run it against the whole fiscal year so far.
