[JC] How does closing a contract affect the General Ledger?

• Soft closing does not affect GL.

• Final (hard) closing affects GL if you use separate accounts for open and closed jobs in JC Departments.

How it works:

• After final closing, any new entries go to the closed job accounts.

• The JC Contract Close program can automatically move revenue and costs from open to closed accounts.

• You can choose Summary (by department) or Detail (by contract) on the GL Close tab in JC Company Parameters.

Notes:

• Automatic GL entries should only be used if job cost posting is consistent.

• The system moves totals based on JC Departments’ cost type accounts, not on actual posted accounts or special payroll accounts. For example, labor costs move from the open labor account to the closed labor account as defined in JC Departments.