Promote Balances

The next step — promoting balances — generates a closing entry for the current ledger and opening balances for the next ledger. If you have not LOCKED your ledger at this point, this step will also LOCK the ledger effective the last day of the ledger.

While the ledger is locked — but not yet finalized — you may create adjustment journal entries, but all other operations are restricted.

It is important to note that you can lock the ledger and NOT promote balances. You may simply choose to lock the ledger from the Edit Identifier screen. This action will render the ledger inoperable but without creating a closing entry and sending balances forward.

Promote balances

If you’re already in the Ledger Editor, skip to step 4.

1. Select Finance from the Module pull-down list on the top of the screen.

2. Select Ledger Manager from the General Ledger menu, and that window opens.

3. Click the  icon for the ledger on which you want to promote balances, and the ledger opens to the General Information tab.

4. Click  Change Ledger Status, and this window opens displaying new commands.

5. Click  Promote Balances, and you’re asked to confirm the action.

6. Click OK. You’ll be kept notified of progress, and if the process is successful, you’ll be returned to the General Information tab displaying new commands and the Locked status. Example

Continue with Mark the Ledger Closing as Finalized

Return to Promote Encumbrances

Return to Closing a Ledger