Contents
Closing a Year & Closing the Last Year Adjustment Period
Updated
by Caroline Buckland
The process
When all periods have been closed, up to period 12, you now need to close the year and open up the adjustment period (P13). Once all adjustments have been made and inserted into P13, you then need to close last years adjustment period.
We recommend that you check the Daily Checks menu before closing any system periods. In particular, check System Dashboard for any batches not fully processed as this could result in postings to an incorrect period. The Task Queue Controller should also be checked for any failed or task running.
For more information on the Daily Checks please review the reconciliation section.
https://financials.helpdocs.io/article/e3aaftmdcd-daily-checks
1. Closing a Year
To access the Close Periods screen: General Ledger – GL Processes – Period/Year End – GL Period and Year End
2. Selecting a Company
Enter the company code in the selection window and select Search.
Highlight the company you wish to close the General Ledger year for. Select the Close Year button.
3. Submitting a Close Year
Check the box to accept that future year calendar periods are correct. Validate the screen by pressing enter.
Select the More: Queue> Submit button.
Followed by Submit again on the selection window.
The Year has now changed on the Period and Year End List screen. The Adjustment period for the previous year has now been opened.
1. Closing Last Year Adjustment Period
To access the Close Periods screen: General Ledger – GL Processes – Period/Year End – GL Period and Year End
2. Selecting a Company
Highlight the company you wish to close the GL period for. Select the Close: Close LY Adj Per button
3. Updating & Closing Last Year Adjustment Period
Ensure that the year shown for the adjustment period is correct.
Select More:Update/Close>Update no Year End, which closes just the adjustment period.
Select More: Update/CLose>Update and Year End if you which to close the adjustment period and close the year at the same time.
The Adjustment Period for the previous year is now closed.
