Contents of the Close Periods Screen

Use the fields and options to configure the Close Periods screen.

Identification

Use the fields in this block to create a new parameter ID or to retrieve a previously saved parameter ID. A parameter ID represents a set of screen selection parameters. After you have saved a parameter ID and its related parameters, you can retrieve them using Query.

You can use the retrieved parameters to produce reports and run processes more efficiently and with greater consistency. The saved parameters are also useful and necessary when you want to run the process as part of a batch job. Many users save a unique set of parameters for each different way they run a report or process. When you select a previously saved parameter ID or parameter description, the associated saved screen selection parameters automatically display as selection defaults. The page setup and print options, if there are any, are also included in the saved parameter ID. You can change any of the associated selection defaults as necessary.

Field	Description
Parameter ID	Enter, or click to select, a parameter ID of up to 15 alphanumeric characters. Choose characters for your parameter ID that help identify the type of selections you made on the screen, such as PERIOD or QUARTERLY. When you save your record, all the selections made on the screen are stored with the parameter ID. Later, you can retrieve the parameter using Query. You can use the parameter to run the process more efficiently because you can select the parameter ID with its previously defined screen selections. After the default selections display on the screen, you can override the defaults.
Description	Enter, or click to select, a parameter description of up to 30 alphanumeric characters.

Select Period

Field	Description
Fiscal Year	Enter, or click to select, the fiscal year for the period to be closed.
Period	Enter, or click to select, the accounting period that you want to close. When you close a period, Costpoint assigns the Not Available status to all of its subperiods. After you close a period, if the total number of open periods in all fiscal years is less than the entry in No of Periods to Keep Open on the Configure General Ledger Settings screen, Costpoint opens the next "not available" period. If no eligible periods exist, a warning message is displayed.

Close Option

Field	Description
Test	Select this option to test the data in the selected fiscal year and period to make sure that you can close the period. The test process checks for unposted transactions. You must test the data before you can close a period. You can do that in one of two ways: Select the Test/Close Pd option and run the process to both test and close. Select the Test option, run the process, select Close Pd, and run the process again. The Close Pd option is not available if you have not run the process using the Test option. This process does not check for unposted sales order entry invoices unless you have purchased Sales Order Entry and does not check for unposted inventory transaction records unless you have purchased Inventory. If you select Close Pd, Costpoint moves the unposted transactions to the first subperiod of the following period within the fiscal year for which you are closing a period. Costpoint does this without verifying whether the accounts and projects are active for the new fiscal year/period combination.  (Note that Costpoint does not move unposted transactions in this case if you are closing the last period of a fiscal year.) If Costpoint finds any unposted transactions with a status of Hold or Over Budget, it displays a message and asks if you want to continue testing. If Costpoint finds any unposted transactions with a "non-hold" status (such as timesheets), it stops the process and displays a message to tell you that the transactions must be posted before you can close the period. The message also lists any journals that have unposted transactions. If you use Fixed Assets, you must also close the same period in Fixed Assets before you can close the accounting period. Use the Close Fixed Assets Accounting Period screen to close the fixed assets period. Costpoint also tests the Standard Bills, Customer Product Bills, and Project Product Bills journals for unposted entries. If any of these journals contains unposted transactions for the selected fiscal year and period, Costpoint displays a message to tell you so and to give you the option of continuing or canceling. If you use Payroll and the Payroll Journal has not been posted, Costpoint displays a message to tell you so. Costpoint also checks timesheets for inclusion in payroll posting, whatever fiscal year and period you are closing.
Close Pd	Select this option to close the period. This option is disabled if you do not first run the process with the Test option selected to verify whether or not the period can be closed. This option is also disabled if the test locates any unposted transactions with a status of "non-hold." After you post those transactions, you must run the process again with Test selected.
Test/Close Pd	Select this option to test the period data and then close the period in a single process. This process performs the same tests as when you select the Test option. However, if anything fails the test, the process does not close the period. (See the explanation of the Test option above for a description of the test process.)

Run the Close Periods Process

To test, close, or both, you must test and close the selected period. Then click Test/Close Periods on the Action menu.