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https://issues.apache.org/jira/browse/FINERACT-38?page=com.atlassian.jira.plugin.system.issuetabpanels:comment-tabpanel&focusedCommentId=16258982#comment-16258982
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ASF GitHub Bot commented on FINERACT-38:
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GitHub user Ippezrobert opened a pull request:
https://github.com/apache/fineract/pull/429
EOY-Closure: FINERACT-38
@nazeer1100126 Could you please review this and @avikganguly01 or @edcable
Could you please have the community-app side implementation for this or you
could identify someone good at the front end implementation to have this done
so that it could be shipped with the next release.
You can merge this pull request into a Git repository by running:
$ git pull https://github.com/Ippezrobert/fineract EOY_Closure
Alternatively you can review and apply these changes as the patch at:
https://github.com/apache/fineract/pull/429.patch
To close this pull request, make a commit to your master/trunk branch
with (at least) the following in the commit message:
This closes #429
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commit 075d412b7825d2568d67c18a3bc60b0c10d97b60
Author: Ippez Robert <[email protected]>
Date: 2017-11-20T09:06:02Z
FINERACT-38
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> Period Close feature where inc & exp booked to retained earnings account
> ------------------------------------------------------------------------
>
> Key: FINERACT-38
> URL: https://issues.apache.org/jira/browse/FINERACT-38
> Project: Apache Fineract
> Issue Type: Improvement
> Components: Accounting
> Reporter: Dayna Harp
> Assignee: Markus Geiss
>
> https://mifosforge.jira.com/browse/MIFOSX-2337
> Relates to: https://mifosforge.jira.com/browse/MIFOSX-2288 (see attachments
> and narrative)
> financial year end to be user definable and to have the full effect of
> closing off the year with initialization of the profit and loss account. Year
> end process should be run as/when the institution is ready to close their
> books and may not necessarily happen exactly
> Musoni is implementing and sharing the following:
> Ability to close a financial year from an accounting perspective (booking off
> income and expense accounts against your retained earnings equity account).
> The high-level spec of this feature is:
> * When a user performs a financial close period (existing feature) we have
> added various parameters to the call that allow you to also book off the
> income and expenses generated in that period.
> * Once you submit this request the various balances will be pulled out and
> the difference between all expenses and income accounts will be booked off
> against a (specified) equity account.
> * The journal entry that is generated to perform this booking will be stored
> with the close period so that it can be reversed again if a close period is
> reopened.
> * There is a preview/template API endpoint that allows you to preview the
> booking that is going to be performed
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