To give a little more context, a client was running the P&L report for the month of December ending 12/27/2015.
12/27/2015 is the last day of their fiscal year which is the last day they run payroll. Similarly, it ended 12/28/2014 the year before. Whenever they were running the report for 2015, the Current Period column came back with $0.00. After investigating, she noticed that in the year 2014, all journal entries were posted before 12/28/2014.
This year she had posted some journal entries to 12/27/2015. Are those journal entries not being picked up by the report? Can and should we change the journal entries to be on 12/26/2015 (not sure what we would have to do if we needed to change the date)?
Their fiscal periods are set up as follows:
Period 1 - 12/29/2014
Period 2 - 2/1/2015
Period 3 - 3/1/2015
Period 4 - 4/1/2015
Period 5 - 5/1/2015
Period 6 - 6/1/2015
Period 7 - 7/1/2015
Period 8 - 8/1/2015
Period 9 - 9/1/2015
Period 10 -102/1/2015
Period 11 - 11/1/2015
Period 12 - 12/1/2015
Period 13 - 12/27/2015
