Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
  • #11821

    Do I need to make closing entries every year end? In NV1, there is no need for the closing entries as these are automatically closed when the books are carried forward the following year.
    In NV2, we are having problem ‘coz the nominal accounts are also carried forward to the following year whenever we print the p & l, or get the balances of nominal accounts for the current period.


    If you are not posting to these accounts you can set Print Zero Balance Accounts to No (Print > All and Print > Block ) and Include Empty Accounts No (Print > Account Ledgers).

    Make sure the Normal Rep of the accounts (nominal) are set to Periodic along with the other accounts on the P&L Statement. When selecting a date range with F11 (Window > Define Columns) set your Begin date and End Date and Respect Normal Rep set this to Yes. This will show balances for the accounts with transaction within the specified date range.

    You do not need to add closing entries to your NV2 application databases.

    Regards to All,


Viewing 2 posts - 1 through 2 (of 2 total)
  • You must be logged in to reply to this topic.