Open topic with navigation

(continued from Forex Processing)

Period Close

The process to close and advance accounting periods is a separate exercise for Debtors, Creditors and GL. However, the process itself is identical for all three ledgers.

The process updates the closed and current accounting periods of the ledger and is performed at the end of each accounting period after all reports have been run and transactions have been checked.

The period close is multi-functional—i.e. it:

• Ages the ledger balances.
• Closes the ledger current period so that transactions can no longer be entered into that period.
• Advances the ledger to the next period.

(continued in Period Advance and Close)

Open topic with navigation