To Close Financial Periods in Accounts Receivable

To close any number of financial periods in the accounts receivable subledger, you use the Close Financial Periods (AR509000) form, as described in this topic. (Alternatively, you can close the periods in any subledger on the Manage Financial Periods (GL503000) form when you close the periods in the general ledger.) You can close a financial period only if there are no unreleased documents dated in this period.

In MYOB Acumatica, if the Restrict Access to Closed Periods check box is selected on the General Ledger Preferences (GL102000) form, only users assigned to the Financial Supervisor role on the User Roles (SM201005) form can post transactions to closed periods. If this check box is cleared, other users can post to closed periods as well.

Before You Proceed

Make sure all the appropriate recurring documents are generated and recurring transactions are posted in the period or periods to be closed. For details, see To Generate Recurring Documents.

To Close Financial Periods in Accounts Receivable

  1. Open the Close Financial Periods (AR509000) form.
  2. In the Company box of the Selection area, select the company for which you want to close a financial period.

    This box appears on the form if your organization does not use centralized management of financial periods—the Centralized Period Management feature is disabled on the Enable/Disable Features (CS100000) form.

  3. In the Action box, select Close.
  4. If you need to close financial periods in more than one financial year, in the To Year box, select the latest year.
  5. Select the unlabeled check box in the row of the latest period you want to close. The periods preceding this period are selected automatically.
  6. Optional: To review unreleased accounts receivable documents for the selected periods, click Unreleased Documents on the form toolbar.

    The system displays the Unreleased AR Documents report or displays a message that there are no unreleased documents in the period or periods.

  7. On the form toolbar, click Process to close the selected period or periods, or click Process All to close all the periods in the list.