Audit Adjustment Before Fiscal Year is Closed

Here's how the posting of audit adjustment affects the General Ledger when created and posted before Fiscal Year is closed:

1. Open a Fiscal Year record that is still an 'Open Year'. 
   
2. Click Audit Adjust toolbar button and click New from the Search Audit Adjustment screen to open a blank Audit Adjustment screen.
   
3. Create new Audit Adjustment.
4. Once the transaction is balanced, Click Recap button to view the accounts affected by this transaction. Since Fiscal Year is not yet closed, there's no need to zero out nominal accounts.
   
5. Click Post toolbar button on Recap Transaction or Audit Adjustment screen. 
6. Close Audit Adjustment screen.
7. On Fiscal Year screen, click Close Year toolbar button to start the closing of the fiscal year. 
8. Recap Transaction screen will open. An additional entry that zeroes out nominal accounts, including the ones used in the Audit Adjustment, and a Retained Earnings entry to close that amount will be shown.
   
9. Click Post button to actually close year.