Preparing for Period Closing
Note: You define system control options that impact
closing on System Control (GL00.1).
Before closing a period, you should ensure that all journal entries have been posted appropriately to General Ledger and that any other required tasks, such as closing subsystems, have been performed. Use the following table as a checklist to identify the tasks to complete before starting the closing process and to locate additional information about the procedures you might need to perform.
To prepare for period closing
Complete the applicable tasks in the following table
prior to closing a period.
| Tasks to complete before closing | For details, see |
|---|---|
| Before closing a period, make sure that you release all unreleased journal entries and post all released journal entries. No open transactions can exist in the period you are closing. | Releasing journal entries Posting Journal Entries |
| If you have closing control selected for a subsystem, you must close the subsystem before you can close the general ledger accounting period. | The User Guide for the specific subsystem you want to close |
|
After interfacing and posting all recurring journal entries for the period to General Ledger, close the Recurring Journal system. Note: This is optional based
on System Control (GL00.1) settings.
|
Closing the recurring journal system |
| Make corrections, as needed, to posted journal entries. | Maintaining journal entries |
| If you use the Lawson Allocations application, interface and post all allocations for the period. | Interfacing Allocations to General Ledger |