A period closing means that transactions can no longer be entered in the closed period and that the period opening balances will become definite.
Note: The system will not allow you to close actual or future periods.
Tip: Before you close a period, remember to:
- Apply all of your standing orders that belong to the period you are closing (that is, if you use manual update). You can close the period without this being done. However, your standing orders will not be applied once you have closed the period.
- Create all of your calculations/redistributions (apportionments) for the period you will close (if you use the batch update function). You can close the period without this being done, however your automatic entries will be posted to another period if they are updated after the period has been closed.
The closing of periods is not to be confused with the period roll-over that is performed in the backup routine when the system date agrees with or has passed the last day of the period (as stated in the G/L control file. A period roll-over implies that:
- A new period is proposed when you enter transactions. However, you can still enter them in any other open period.
- The statistics files will be updated to show statistics for the new period as the current one.
- The transactions that have become too old (according to the number of periods permissible by the A/R, A/P and G/L control files) will be deleted.
You can temporarily close a period for transaction entry by closing the period for voucher types used. If, for example, period 1 of year 01 will be closed for entry, but year 00 is still open for year end posting purposes, then you can close period 0101 for the voucher types used for regular postings.
Enquiries
- G/L control file enquiry – showing the last period that has been closed.