You calculate fiscal LIFO from the fiscal LIFO journals. Before you create the fiscal LIFO journals, you must set up journal names for each journal type. This means that you must create a journal name for both the internal fiscal LIFO journal and for the annual municipal fiscal LIFO journal.

Create journal names for fiscal LIFO journals

  1. Click > > .

  2. Open the form, and press CTRL+N to create a new journal name.

  3. In the field, select if you want to create a journal name for an annual municipal report, or select if you want to create a journal name for an internal report.

Create fiscal LIFO journals

  1. Click > > .

  2. Select either or depending on the type of journal that you want to create.

  3. In the or the form, press CTRL+N to create a new line.

See Also