Preparing for period closing
Before closing a Multi-Book Ledger period, you should ensure that all journal entries have been posted appropriately to General Ledger and to Multi-Book Ledger. There is no system requirement to close a General Ledger period before you close a Multi-Book Ledger period, but you want to ensure your General Ledger data is complete to have accurate ledger reports.
Prepare for period closing
Complete the applicable tasks in this table
before closing a period:
| Tasks to complete before closing | For details, see |
|---|---|
| Before closing a period, ensure 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 and Posting journal entries |
| Make corrections, as needed, to posted journal entries. | Maintaining journal entries |