Close Period
Explanation
The period calendar in Accounting
Rules consists of a main calendar and calendars for each user group per ledger. Each period is either
open, closed or finally closed for accounting. If you close a period to a user group, it is closed to all
users in the group. If you close a period in the main calendar, it is closed to all users
in all groups. Following are methods for using accounting periods:
- To eliminate incorrect postings, block future periods. Open them
again when you want to use them.
- After you enter all vouchers in a period, you can close it to certain
user groups but leave it open to those who reconcile periods.
- After you close a period entirely, you close it to all groups in the
main calendar. The program checks that all the period transactions are updated. If there
are vouchers in the hold table, they must be updated before the period can be closed. You
can reopen a closed period to enter more vouchers in it. The new transaction can affect
the period reconciliation.
- If the period closing method for the
company is Not Reversible, once an accounting period is closed, it
will be possible to finally close the period.
Prerequisites
Before closing an accounting period
of a ledger, the
following must have been completed:
- All vouchers concerning the period must have
been updated from the hold table to the respective ledger.
- For a period to be available to be
finally closed, it should have the status Closed.
System Effects
As a result of the closing of the period, no postings can
be posted on the period. After a period is finally closed,
it cannot be reopened.
Window
Accounting
Periods
Related Window Descriptions
Accounting Periods,
Close/Finally Close Accounting Period Main Calendar
Procedure
Use the following procedure to close an accounting period
for all user groups:
- Open the
Accounting
Periods window.
- Query for the accounting year and the ledger in which you want to
open/close the accounting periods.
- Select the accounting period
you want to close, right-click and then click Close Period or Close
Period Finally, as required. This will open the
Validation
Transactions in Progress window.
- In the
Validation Transactions
in Progress window, click Close Period or Close
Period Finally, as required.
- Save the information.
Use the following procedure to
close an accounting period for one user group:
- Open the
Accounting
Periods window.
- Query for the accounting year and the ledger in which you want to
open/close the accounting periods.
- Select the line containing the period you want
to close.
- Right-click and
then click User Groups per Period.
- Select the line containing the user group and the
ledger that you want to close.
- Right-click and then click Close Period.