If you need to correct a transaction from a prior accounting period you will need to perform the following:
  1. Open every accounting period closed in order of newest to oldest.
  2. Un-post and repost the transaction you would like to fix.
  3. Close each accounting period in the order of oldest to newest.  
For example lets say the current accounting period is 2012-12 and you want to correct a transaction in 2012-10. You will need to do the following:
  1. Open 2012-12, then 2012-11, then 2012-10.
  2. You will then need to fix the transaction 2012-10 by un-posting it and reposting it. 
  3. Then you will need to close 2012-10, then 2012-11 and 2012-12.

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    Skye

    If I have to adjust transactions in period 2016-01, I'll have to open then close all 12 periods every time an adjustment is required? Is there a way to mass open and mass close accounting periods?

     

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