Beginning balances for FY 2011 have now been posted to the General Ledger and are reflected in the July Management Reports.
The June accounting month has been successfully closed. However, we have experienced a problem with the process which rolls balance sheet and Project revenue/expense balances forward into the new fiscal year. The problem has been resolved but due to the length of the process, only Business Unit 04 has been completed. The process will be run for Business Units 01 & 02 tomorrow, July 16th.
As a result, the July Management Reports, for Business Units 01 & 02, will reflect only July transactions and corresponding balances from those transactions only. For Friday, July 16th only, you will need to combine the ending balance in June with the balance in July to determine the true July balance. All balances should be correct on Monday, July 19th.
We are fully aware of the significance of this problem and apologize for the inconvenience. If you have any questions, please contact your cognizant accountant listed on your statement.