Close Financial Periods
Form ID: (AR509000)
You can use this form to close open financial periods in the accounts receivable subledger. A financial period can be closed in the general ledger only if it has been closed in the accounts payable, accounts receivable, cash management, inventory, and fixed assets subledgers. Also, you can use this form to reopen closed financial periods.
By default, the ability to post transactions to closed periods is granted to only users assigned to the Financial Supervisor role on the User Roles (SM201005) form. To give all users the ability to post to closed periods, you clear the Restrict Access to Closed Periods check box on the General Ledger Preferences (GL102000) form.
Form Toolbar
The form toolbar includes standard and form-specific buttons and commands. For the list of standard buttons, see Form Toolbar and More Menu. The form-specific commands are listed in the following table.
| Button | Description |
|---|---|
| Process | Initiates the process of closing or reopening the selected
financial periods (that is, those for which you have selected the
unlabeled check boxes in the table). Note: The green OK
icon appears in the form toolbar if the closing or reopening
operation was completed successfully. The red icon indicates
that the operation failed to complete successfully, because
required conditions were not met or an error
occurred. |
| Process All | Initiates the process of closing or reopening all financial periods listed in the table. |
| Unreleased Documents | Opens the Unreleased AR Documents report to display the unreleased documents for the selected periods (that is, the periods you have selected in the table). |
Selection Area
You use the elements in this area to specify the action the system should perform on the financial periods you select for a specific company (which you can select as well). You can also select the date range (in financial years) of the periods to be listed in the table.
| Element | Description |
|---|---|
| Company |
The company for which you want to close or reopen financial periods. By default, the current company is selected. This box appears on the form when the Centralized Period Management feature is disabled on the Enable/Disable Features (CS100000) form. When the feature is enabled, the periods in all companies will be processed simultaneously if you invoke processing. |
| Action |
The action that will be performed if you process the financial periods selected in the table. Select one of the following options:
|
| From Year | The starting financial year whose financial periods should be
listed in the table and available for processing with the selected
action. If the Close action is selected, this box shows the earliest year with periods open in the accounts receivable subledger; in this case, the year cannot be changed. |
| To Year | The ending financial year whose financial periods should be
listed in the table and available for processing with the selected
action. For the Reopen action, this box shows the latest year with periods closed in the accounts receivable subledger; in this case, the year cannot be changed. |
Table
For the Close action, the table displays all periods from the selected year range that are open in the accounts receivable subledger; for the Reopen action, the table displays all periods from the selected year range that are closed in the accounts receivable subledger. You can select any number of periods for closing or reopening, and then click Process on the form toolbar; you can instead click Process All. You can close a period only if there are no unreleased documents in this period.
| Column | Description |
|---|---|
| Included | An unlabeled check box that you select to include this financial period in the processing (closing or reopening) or the reporting of unposted documents when you click Process or Unposted Documents, respectively. Multiple periods can be selected, and you can select all periods on the page by clicking the check box in the header row. |
| Financial Period ID | The identifier of the financial period. |
| Description | The description of the financial period. |