Creating close configurations

Before you create a close configuration, you must create at least one calendar and its associated periods. You can define multiple configurations for a finance enterprise group. We recommend that you use the same close configuration for all the accounting entities within a finance enterprise group.
  1. Select Financials > Global Ledger > Finance Enterprise Group > Maintenance.
  2. Open the finance enterprise group.
  3. Click the Calendar tab.
  4. Open any calendar and click the Close Configuration tab.
  5. Click Create.
  6. Specify this information:
    Close Configuration
    Specify the name of the close configuration.
    Description
    Specify the full description of the close configuration.
    Periods Are End Of Month
    If you select this check box, then when you create a configuration year, you can only select end of the month dates as closing periods.

    If you do not select this check box, then you can specify any dates that exist on any of the calendars for the closing dates. You can also add new dates on the calendar and select them for close configuration.

    Default Period Name
    If this field is blank, then the month name and close year are used as the default for the period name. To specify the default period name, right-click the field and select Variables. A list of valid variables are displayed. Select the variable or variables to use as the period name.

    The default period name can be changed at a later time right-clicking the field and selecting Variables. Select the new variables you want to use and save your changes. Then for each year that is listed, right-click the year and select Default Period Names.

  7. Click Save.
  8. Create the configuration years by selecting Actions > Create Year.
  9. Specify the Year.
  10. Click OK.
  11. Click the Periods tab.
  12. Select the year and click Helper List.
  13. Select the periods to assign to the year.
  14. Click Create Close Period. The period close date is added to the configuration year.
  15. Repeat steps 8-14 for additional years.
  16. When an alert message is displayed, click Create Period Status.
  17. To manually create periods that are not already defined, select a year and click the Calendar tab.
  18. Click Create.
  19. Specify this information:
    Period Type
    Select End Date.
    Period End Date
    Select the end date for the period.
  20. Click OK.