Closing a company period

Note: If you use closing control, then you must close your Cash Management period before you can close the General Ledger application.

If you used system control in the General Ledger application, then you must process the company period closing at the end of each accounting period. When you close a company period, bank transaction dates are edited to make sure all transactions are transferred to the General Ledger application for the closing period. If a transaction date exists that were not transferred to the General Ledger, then an exception report is created listing the transactions. When all transactions have been transferred, this program updates system control with the next valid date range and allows the General Ledger to be closed for the period. Use this procedure to close a company period.

  1. Access Company Period Close (CB195).
  2. Use these guidelines to specify the field values:
    Company or Company Group

    Specify or select a valid General Ledger company number or a company group to process the period close for. A company group represents one or more companies.

    Note: The company must have system control options defined on System Control (GL01.1).
    GL Period

    Specify the General Ledger accounting period that you want to process the Cash Management closing.

    Year

    Select whether the period selected is in the Current or Next General Ledger fiscal year.

    Detail Report

    Select Yes to run a detail listing of all unposted transactions.

    Note: The detail report may take longer to run.

    If you select No, then the program looks for the first unposted record in each of the applicable files and prints a message on the report stating which type of file has unposted transactions. The default setting is No.

    Update

    If all transactions for the selected period have been transferred to the General Ledger application, then you can select Yes to update system control. If you select No, then the program will only create a listing.