Automatic Method

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Automatic Method

If you have a Capital Account selected for each Department under SETUP | Property Setup | <select property> | Accounting tab | GL tab | Departments tab, then there is NO need to do an EOY journal entry.

 

The system will calculate adjustments based on the property's Annual Accounting Period, and will reflect it accordingly under the Equity/Capital account in financial reports.

 

The system will NOT do a physical entry on the general ledger.

 

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