Closing the Period

Closing the period consists of two steps. First, you will need reconcile your accounts receivable general ledger accounts with the detail in the Accounts Receivable application. After this is tied out, you will close the period to update record statuses and customer period statistics. In this procedure, you will learn how to reconcile your accounts receivable accounts and close the period.

Depending on your processing needs, you will need to perform tasks before you can close the period. These tasks are detailed in the following table.

To	Use
Perform the daily close functions	Closing the Day
Assess finance and late payment charges	Finance Charge Late Payment (AR137). Processing period end
Print payment request notices and statements	Payment Request Notice Print (AR155) and Statement Print (AR150). Processing period end
create dunning letters	Dunning Letter Print (AR160 and AR161) and Dunning Letter File Generation (AR140 and AR141). Processing period end
calculate unrealized gain/loss	Unrealized Gain Loss Report (AR196). Calculating Unrealized Gain/Loss