Processing period end

Period end involves creating estimate accrual entries and closing the current period to update the general ledger period recognition for franchise management. Use this procedure to process period end.

Note: You must run Prepayment Update (FR195) to process any unprocessed prepayments before you can run Accrual Closing (FR190).

Run Accrual Closing (FR190) to post auto-reversing entries to the General Ledger application for the open estimates and call-in accruals for the cycle date.

The accrual transactions are created for the period before and including the cycle date specified in the Post Through Date field. Use this program to debit the accrual account for a specific charge and credit the accrual offset account for the charge.

Note: You must run Period Closing (FR199) before you can post general ledger entries for invoices, prepayments, and accruals on Journal Posting (GL190).
Run Period Closing (FR199) to update general ledger files for period updating.

Note: Regardless of the value you select in the Update Option field, edits will be performed to ensure that all unreleased and released prepayments and actual type sales records that have a date less than or equal to the current general ledger period's ending date are processed.