About processes and tasks

A process captures the overall closing procedures for an entity. Tasks define the work and what must be accomplished before your close process is considered complete. Sub processes are a way for you to group or arrange your tasks. The values specified on a higher level process default to the sub processes and tasks created below it.

The following chart shows the flow of a process and its tasks:

You can create sub processes and tasks within processes and sub processes. You cannot create a sub process or a task within a task.

When defining processes, sub processes, and tasks, a team is required to be assigned for ownership purposes. Assigning an individual owner is optional. When a process is scheduled and only a team has been assigned to a task, all members of the team will see that task in their Team To Do list. A team member can take ownership of team tasks for open periods. Doing so will put the task in that team member's To Do list and remove the task from the Team To Do list for all other members. A Close Manager or Close Administrator can assign a team task to an individual owner for open periods and has the option to only do it for the current period or all future periods.

Depending on what applications are used in your financial system's back office, closing processes could exist for:

  • PO: PO135, PO136, PO190, PO199

  • IC: IC130, IC190, IC199

  • AP: AP136, AP150, AP155, AP160, AP161, AP170, AP175, AP190, AP195

  • BL: BL120, BL121, BL122, BL123, BL199

  • AR: AR190, AR195, AR199

  • LM: LM199

  • PR: PR136, PR140, PR160, PR196, PR197, PR198

  • GL: GL179, GL190, GL199


This list does not apply to a stand-alone application.