Integrating with Close Management

Global Ledger Period can be integrated with Close Management.

This integration enables you to link close tasks to Global Ledger entities and periods, automate task status updates, and monitor close activity from a centralized location.

With this integration, Close Management tasks can be associated with:
  • Accounting Entities
  • Accounting Entity Groups
  • Entity Periods (Period Status and Period Status by Ledger)
When linked, the status of Close Period Tasks is automatically updated based on Global Ledger close processing.

Calendar configuration requirements

Before integrating Global Ledger Period with Close Management, ensure that the calendar setup is consistent. The period frequency defined in Close Configuration must match the period frequency used in Close Management.

Accounting entity

A Close Task field is available in Global Ledger to associate Close Management tasks with Accounting Entities. A Close Task can be linked to one or more Accounting Entities. Only active, detailed Close Tasks that are not already assigned to another system are available for selection.

Close Task values assigned at higher levels are automatically applied to lower levels:

  • A task assigned to an Accounting Entity Group is inherited by all entities in the group. When the close task is edited at the group level, the individual entity in the group is automatically updated.
  • A task assigned to an Accounting Entity is the default to all associated entity periods.

Global ledger period

When an Accounting Entity has an assigned Close Task, the Close Task is automatically defaulted on each associated Entity Period. The close task can also be edited or removed on the Period. A Close task can also be assigned to an Entity Period when none is currently associated.

Updates made to a Close task do not cascade between the Accounting Entity and Entity Period. Changes made in one location do not update the corresponding task in the other.

For a Close Period, process to run successfully, the assigned task must meet these scenarios:

  • The assigned task must be scheduled and open for work in the same period on the Close Management side.
  • If the close task is already open and scheduled, a process owner is required. The process cannot run if the assigned close task does not have an owner.