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What happens if I forget to create journal entries for an accounting period?

April 26, 2017Accounting ASSET create entries forget happens period

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What happens if I forget to create journal entries for an accounting period?

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For example, I created journal entries for AUG-08 and OCT-08, but forgot to create journal entries for SEP-08). Oracle Assets lets you create journal entries for accounting periods in any order as long as you have ran depreciation for the period and the period is open in your general ledger. 5. How do I reconcile Oracle Assets with my general ledger? Oracle Assets has a set of reports you use to reconcile asset cost, depreciation expense, and depreciation reserve accounts to your general ledger.