•  Refresh
  • Tools
  •  
  • Expand All
  • Collapse All
  • Locales
  • Get File Link
  • Report Typo
  • Print
  • Export

Close Financial Periods

Form ID: (IN509000)

This form is available only if the Inventory feature is enabled on the Enable/Disable Features (CS100000) form.

You use this form to close open financial periods in the inventory subledger, which is a required stage of closing a period in the general ledger. (A financial period can be closed in the general ledger only if it is closed in the accounts payable, cash management, accounts receivable, fixed assets, and inventory subledgers.) When you close a given financial period, 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.

Back to TopForm Toolbar

The form toolbar includes the buttons described below.

Button Description
Process Initiates the process of closing or reopening the selected financial periods—that is, those for which you have selected the unlabeled check boxes in the table.
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 Generates the list of unreleased inventory documents for the selected financial periods (that is, the periods you have selected in the table), so you can view their details. The system generates this report in the PDF format and opens the created document.
Documents Not Posted to Inventory Opens the Documents Not Posted to Inventory (IN656500) report, which shows the list of documents (unreleased sales invoices and confirmed shipments) for the selected periods that have to be posted to the inventory subledger.

Back to TopSelection 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.
    		•  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 inventory 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 inventory subledger; in this case, the year cannot be changed.

Back to TopTable

For the Close action, the table displays all periods from the selected year range that are open in the inventory subledger; for the Reopen action, the table displays all periods from the selected year range that are closed in the inventory subledger. Select any number periods for closing or reopening, 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.

The table toolbar has only standard buttons.

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 The identifier of the financial period.
Description A description of the financial period.