Closing a period

Closing a period is required only if you elected to use closing control in General Ledger. If you are using closing control, you must close Project Accounting before you can close General Ledger. The closing control option is defined in System Control (GL01.1). Use this procedure to close the period in Project Accounting.

Before running the period close program, complete all required processing in Project Accounting and Billing and Revenue Management. See Preparing for period closing.

Follow these steps to close an activity period:

  1. Access System Control (AC195).
  2. Close the current period. Use these guidelines to specify the field values:
    Company, Company Group

    Select a company or company group that contains the companies for which you want to update the AC record in General Ledger System Control (GL01).

    Period

    Specify the period for which you want to update the AC record in General Ledger System Control (GL01).

    Year

    Select the year for which you want to update the AC record in General Ledger System Control (GL01). You can select C (Current) or N (Next). The default setting is Current.

    Update

    Select Yes to update General Ledger System Control (GL01). Select No to print a report without updating. The default setting is No.

    Update AC Transaction

    Select Yes to automatically change the posting date in unreleased activity transactions. This allows you to assign a posting date in the new period to unreleased transactions.

    Select No to keep the existing posting date in unreleased activity transactions.

    New Posting Date

    If you selected Yes in the Update AC Trans field, specify the new posting date you want to assign to unreleased activity transactions. For example, if you are closing the month ended May 31, you can use June 1 as the new posting date for unreleased activity transactions.

Follow-up tasks

  • Complete Period Closing tasks in General Ledger.

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