To close the period

  1. Access Period Closing Report (AR199).
    Note: If you selected Yes in the Verify Post Date field on Company (AR01.1) and System Control (GL01.1), the program performs edits to be sure all transactions for the current period have been released and all transactions have been posted.
  2. Run this report monthly to close the current period for the Accounts Receivable application, and update customer period statistics. The closing rolls the high balance, return to maker payments (RTMs), paid prompts, and invoices paid from the current period to the previous period; rolls each past period into the preceding period; and deletes the oldest period to update the customer statistics. It also rolls the ending balance for the Period column on the Audit Summary (AR194). Use the following guidelines to enter field values:
    Company

    Type the company number. This must be a valid company in AR01 (Company).

    Company Group

    A company group is an optional batch processing parameter that lets you run batch programs for a group of companies instead of just one company at a time. A company group represents one or more general ledger companies.

    Company groups are setup in GL11.1.

    Period

    Select the general ledger period to be closed. Valid values are 1 through 13. If left blank, the current period defaults.

    Year

    Select Current or Next. If left blank the current fiscal year will default.

    Note: If you select Next, the system will try to close the period indicated but for the following fiscal year. This flag is used when you are ready to close the first period of the new fiscal year in AR, but your GL has not yet closed the old fiscal year.
    Print Credit Balances

    Select Yes if you want to list customers that have a credit balance, including a credit balance total for the company. The total can be used as an amount to be recognized as a liability, typically for year-end financial reporting.

    Year End

    Select No, unless you are processing the report for year end. Closing the Year

    If you select Yes, the year to date column ending balance will also be rolled forward.

    Note: A system message alerts the user if a Period close is attempted when a Year End close is required. The message reads: "Year End close required; Year End flag must = Y".