Use this activity to create a voucher that contra-posts all revenue and cost balances for an accounting year in a selected ledger. While this voucher is stored in the hold table, it becomes possible to remove or modify the transactions and to add new transactions.
The Clear Revenue / Cost Balance voucher will post the difference from the revenue and cost balances to a profit or loss account defined with posting type GP8. If the revenue and cost accounts balance, the voucher will only contra-post the revenue and cost accounts.
Before clearing revenue/cost balances, the following must have been completed for the selected ledger:
A voucher that contra-posts all revenue and cost balances for an accounting year is created for the specified ledger.
The Clear Revenue / Cost Balance voucher will post the difference from the revenue and cost balances to a profit or loss account defined with posting type GP8. If the revenue and cost accounts balance, the voucher will only contra-post the revenue and cost accounts.
When the voucher is updated to the selected ledger, the balance for all revenue and cost accounts for the accounting year is 0.
Use the following procedure to clear revenue and cost balances: