Close financial periods (AP506000)
Introduction
- You can close a financial period 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 (if they have not already been closed).
Generally, posting transactions to closed periods is not allowed. To allow posting to closed periods, select the Allow posting to closed periods option in the General ledger preferences (GL102000) window.
What to do from this window
The window toolbar
| Button | Description |
|---|---|
| Close periods | Initiates the process of closing the selected financial periods. The green OK icon appears in the window toolbar if the closing operation was completed successfully. The red icon indicates that the operation was cancelled because some necessary conditions were not met. |
| Unreleased documents | Opens the All unreleased documents report to display open documents for the period (documents that have the On hold or Balanced status). |
| Prepare for closing | Opens the Prepare for closing (AP50700S) window. Initiates the process of closing the selected financial periods. The green OK icon appears in the window toolbar if the closing operation was completed successfully. The red icon indicates that the operation was cancelled because some necessary conditions were not met. |
The table
The table displays all currently active financial periods for the earliest year that has active periods. You can select one or more periods for closing and then click Close periods.
| Column | Description |
|---|---|
| Period | The identifier of the financial period. |
| Description | The description of the financial period. |
| Active | When this check box is selected, the financial period is active. |