Close financial periods (FA509000)
By using this window, you can close active financial periods in the Fixed assets workspace. A financial period can be closed in the General ledger workspace only if it has been closed in the Supplier ledger, Customer ledger, Cash management, Inventory, and Fixed assets workspaces. When you close a given financial period, all preceding active periods will be closed as well.
Generally, posting transactions to closed periods is not allowed. You permit it by selecting the Allow posting to closed periods option in the General ledger preferences (GL102000) window.
The window toolbar
| Button | Description |
|---|---|
| Close periods | Starts the process of closing the selected financial periods. The green OK icon appears if the closing operation has completed successfully. The red icon indicates that the operation was cancelled because critical conditions were not met. |
| Unreleased documents | Opens the Unreleased fixed assets documents (FA651000) report, which shows you the documents that must be closed before you can close the financial period. |
| Show fixed assets | Opens the Non-depreciated fixed assets (FA652000) report to display open documents for the period. This action is available for only periods that have open documents. |
The table
The table of periods displays all currently active financial periods for the earliest year that has active periods. Select one or more periods for closing, and then click Close periods. A period can be closed only if there are no documents with the On hold, Balanced, and Released statuses to be posted to this period.
| Column | Description |
|---|---|
| Financial period ID | The identifier of the financial period. |
| Description | The description of the financial period. |
| Active | A check box that indicates (if selected) that the financial period is active. |