Close Periods
Use this screen to close accounting periods to data entry. The closing process checks for unposted transactions, deletes posted timesheets in Payroll, and changes the period's status to Closed on the Manage Accounting Periods screen.
You must post the following transactions for the selected fiscal year and period before you can close the period:
- Vouchers
- Journal entries
- Allocation journal entries
- Cash receipt
- Cash disbursements
- Manual bills
- Unit usage
- Intercompany receivables
- Labor distribution (timesheets)
The period must be closed in Fixed Assets, if applicable, before you can close the general ledger accounting period. You must also post all transactions for the selected fiscal year and period in Inventory and Sales Order Entry, if applicable, before you can close the accounting period.
You can close a period multiple times, if necessary. If you need to reopen a closed period, do so on the Manage Accounting Periods screen. If you reopen a period, you must run the Close Periods process again when you are ready to close it.
See Closing the Accounting Period for more information.
Only one person at a time can use this screen.
- Related Topics:
- Display the Close Periods Screen
You access the Manage Accounting Periods screen from the Accounting domain. - Contents of the Close Periods Screen
Use the fields and options to configure the Close Periods screen. - Table Information for the Close Periods Screen
Costpoint records entries in the Posting Semaphore table during the close process and also updates the Posting Sequence Number table to indicate that the period is closed. The journal code for a period closing is CPD.