Closing a period

If Lease Accounting system control is used in Global Ledger, then you must close a lease accounting period before you can close the corresponding Global Ledger period. You must close the periods to ensure that all processing for the periods are completed. Closing a period is also used to track period-to-date and year-to-date amounts.

This list shows the circumstances in which a period can be closed:

Outstanding payments are processed
Open leases that are scheduled to end within the period are closed
Lease-related transactions are journalized and posted

Select Lease Period Close.
Select Company Group or Company.
Specify this information:

Year End

Select whether the closed period is the last period in the year.

Update

Select No to view a report of all the payments rejected by the closing period. The period is not closed until you have posted all of the outstanding payments.
Click Submit. .