Related topics
This routine closes the oldest open accounting period. After that, no transactions in the period can be entered. Note: The actual period, or periods in the future, cannot be closed.
- Update all transaction journals where the period is used (if you use delayed update). The system will automatically check this for you, and show an error message if there are any journals that have not yet been updated. Period closing cannot be performed before this has been done.
- Close all temporarily interrupted batches where the period is used. The system will automatically check this for you, and show an error message if there are any batches that are interrupted. Period closing cannot be performed before this has been done.
- Correct all journals in error, through journal maintenance, that use the accounting period. The system will show an error message if any such journals exist.
- Apply all manual standing orders that belong to the period to be closed. Period closing can be performed without this being done, but the standing orders cannot be applied once the period is closed.
- Create all calculations/redistributions for the period to be closed (if you use batch update). Period closing can be performed without this being done, but the automatic entries will be posted to another period if they are updated after the period has been closed.
The closing of periods has nothing to do with the period roll-over that the backup routine performs when the system date corresponds to, or has passed, the ending date of the period (entered in the G/L control file).
- The new period is proposed when you enter transactions, but you can still enter them in any other unclosed period of your choice.
- The statistics files are updated to show statistics for the new period as the current one.
- Transactions and postings that have become too old will be deleted.
A period closing, which is usually performed later, means that transactions can no longer be entered in the closed period, and that the period balances will become definite. You can close a period temporarily for transaction entry by closing the period for the voucher types used. If, for example, period 1 in year 11 should be closed for entry, but year 10 is still open for year-end posting purposes, then you can close period 1101 for the voucher types used for regular postings.
The accounting year is closed when the last accounting period of the year is closed. Unlike the period roll-over routine, any extra periods used for year-end purposes are included in the period closing procedures. The closing and opening balances in the old and new accounting year become final when the last period of the old year is closed.
Before closing the last period, you must remember to book the operating result of the year to a balance account. The result can be taken from a balance report per year end date, and must be posted manually. If the result is not entered, the balance accounts will not balance to zero, and the following year’s opening balances will be wrong.
You can always work with parallel accounting in several years. The entries on balance accounts in the old year will automatically update the opening balances in the following year when you update G/L transactions and balances.
Function keys
| Execute | Close the period. It might take a long time before the next panel is shown, because of the amount of processing that needs to be done, in order to reconcile the A/R and A/P with the G/L, and check that all trade accounts have a zero balance. If the balance is not zero, you will get an error message, and you remain on this panel. |
- Period to be closed
- Displays the period number and the name of the oldest open period.
- Create opening bal
- Only shown if the last period of the year is about to be closed. Indicate if you want to create opening balance transactions. If YES, the opening balance will no longer be displayed separately in the G/L balance enquiry programs. The program will check that the remaining amount in the A/R and A/P transaction files is equal to the balance in the G/L.
As long as the year is not closed and the opening balances are not yet created, the system will update the preliminary balance as before and it will be shown as an opening balance in the G/L balance enquiry program.
When the opening balance transactions have been created, the opening balance field in the balance file will be cleared, but instead the opening balance will be included in the total balance for the first period of the year.
Note: The opening balance will be cleared for the following balance types, if active:
- System currency amounts
- System currency amounts/transaction
- Transaction currency amounts
- Reporting currency amounts
- Difference
- Only shown if the balance of all trade accounts is not zero. Displays the difference amount, i.e. a summation of all the debit and credit differences for all trade accounts. This difference has to be posted manually before the year can be closed.
Close accounting period (FSR82002)
This panel is shown after you have clicked Execute on the previous panel.
- Voucher date
- Only shown if Create opening bal is YES. Mandatory entry. Enter the voucher date for the opening balance transactions.
- Voucher type
- Only shown if Create opening bal is YES. Enter the voucher type for the opening balance transactions. The voucher type must be valid for the C/OB routine.
When the G/L postings are updated to the G/L, the following reports will be printed, under the following circumstances: