Closing bank periods

When you close a bank period, all reconciliations that occurred in the bank period are updated. Use this procedure to calculate ending balances for the closing period, beginning balances for the next period, and close the bank period. After transactions are reconciled and closed, they cannot be reopened for additional processing.

  1. Select Bank Period Close.
  2. Cash Management Group is automatically filled from user context.
  3. Select Cash Code or Cash Code Group. You cannot select both.
  4. Specify this information:
    Period Close Date
    Specify the ending date of the bank period. Transactions that were reconciled on or before this date are updated. New beginning balances, transaction, and end balances are calculated for the bank period.
    Report Sequence
    Select whether to sort the updated transactions by transaction code or by transaction date.
    Update
    Select Yes to close the bank period. If you select No, then only a report is created.
  5. In the Report Distribution section, select a distribution list and export type for Bank Period Close Report.
  6. Click Submit.