Closing a bank period

When you close a bank period, all reconciliations that occurred in the bank period are updated. This program calculates ending balances for the closing period, beginning balances for the next period, and closes the bank period. After transactions have been reconciled and closed, you are no longer allowed to re-open them for additional processing. Use this procedure to close a bank period.

Note: You must run Bank Transaction Posting (CB175) before you update reconciliations.
  1. Access Bank Period Close (CB190).
  2. Use these guidelines to specify the field values:
    Cash Code or Cash Code Group

    Select a valid cash code or cash code group that represents the bank account(s) that you want to close a bank statement.

    Period Close Date

    Specify the ending date of the bank period. All transactions reconciled on or before the date you define will be updated to calculate new beginning, transaction, and ending balances for the bank period.

    Report Sequence

    Select a report sequence to indicate whether to sort updated transactions by transaction code or transaction date.

    Update

    Select Yes to close the bank period. If you select No, then the program will only create a listing.