The Fiscal Year Balance Details (BBALFY) page provides you with a way to view balances at a more detailed level than the other balance pages. BBALFY includes Fund, Sub Fund, BSA, and Sub BSA chart of accounts elements in addition to Fiscal Year. An important piece of information that the Fiscal Year Details page has that the ITD pages do not have is the beginning balance. The ending balance of the prior year’s record is the beginning balance of the next year’s record.
When a Fiscal Year is closed, the resulting entries ensure that the Debit Amount equals the Credit Amount, resulting in a Balance value of $0.00 for that year. This is true for all accounts linked to Posting Codes that are rolled. Those left in the old year and not acted upon by the Annual Close process will not necessarily balance to zero. When the Balance amount goes to $0.00 for a Fiscal Year closed, the Beginning Balance amount for the subsequent year will also be $0.00. For this reason, the Beginning and ‘ending’ Balance amounts will not be useful for reporting on when a year or the prior year is closed. In such a case, a ledger that retains Fiscal Year or Accounting Period is more useful.