Linked Document

Here we present VAT accounts. Using this option transfers detailed posts of linked documents with open status on the last date of fiscal year. The only difference to the previous option is insofar as only account, linked document and currency (plus, department and cost center if you checked Close by Departments and Cost Ctr. in the Administration Panel) and NOT subject need to be checked. Of course, it is required that posts were closed correctly beforehand. To do this, use Financial / Close / Close General Ledger module. In addition, V - Do not use subject (for linked document) must be set for accounts in the Chart of Accounts (not just in Scenario panel).

Goods were delivered from EU in December and you posted VAT liabilities in December 2008. On the other hand, you post payables for VAT in January 2009. Thus the posted payable will not be included in VAT account for December and remains outstanding on the last date of fiscal year (that is, if VAT accounts are closed for linked documents).

It is MANDATORY that you close accounts in the Financials / Close / Close General Ledger module before closing them for linked document. Here subject need not be entered.

When closing General Ledger accounts, only balance excluding original dates of linked document is transferred to a new fiscal year:

This is not the case if you check V - Do not use subject (for linked document) for accounts:

Create closing and opening entry for the selected account group to transfer outstanding post by detailed linked document including original dates:

For other variants see:

1-Subsidiary Accounts

3-General Ledger