Close Financial Periods

Form ID: (CA506000)

You can use this form to close open financial periods in the cash management subledger, which is a required stage of closing a period in the general ledger. The financial period can be closed in the general ledger only if it is closed in the accounts payable, accounts receivable, inventory, fixed assets, and cash management subledgers. When you close a given financial period in the cash management subledger, all preceding open periods will be closed as well if they have not already been closed. 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 financial periods that you have selected (by using the check boxes in the unlabeled column of 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 CA 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 the selected 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:

  • Close: Closes the selected financial periods (or all periods) for the company.
  • Reopen: Reopens the selected financial periods (or all periods) for the company.
    Note:
    If the Restrict Access to Closed Periods check box is selected on the General Ledger Preferences (GL102000) form, the Reopen action is available only for users assigned to the Financial Supervisor role.
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 cash management 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 cash management 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 cash management subledger; for the Reopen action, the table displays all periods from the selected year range that are closed in the cash management subledger. Select the period or periods you want to close or reopen, and click Process on the form toolbar; you can instead click Process All. A period can be closed 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.
Financial Period ID An identifier of the financial period.
Description A description of the financial period.