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Closing Financial Periods: To Close a Period in Subledgers and GL

The following activity will walk you through the process of closing periods in all the subledgers and in the general ledger at the same time.

Back to TopVideo Tutorial

This video shows you the general process but may contain less detail than the activity has. If you want to repeat the activity on your own or you are preparing to take the certification exam, we recommend that you follow the instructions in the steps of the activity. This video shows the Classic UI and may not match the system’s current appearance.

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Back to TopStory

Suppose that as an accountant of the SweetLife Fruits & Jams company, you have to close the 04-2025 financial period (and all previous periods that are not already closed) in all the subledgers and in the general ledger at the same time. The periods should be closed for the SweetLife Head Office and Wholesale Center branch to prevent users from posting to these periods.

Back to TopProcess Overview

In this activity, you will review the statuses of financial periods on the Company Financial Calendar (GL201100) form and close the financial periods on the Manage Financial Periods (GL503000) form.

In a production environment, before you get started, you would make sure the following conditions are met:

  • There are no batches with a status of On Hold, Balanced, or Unposted in the period or periods.
  • If you use auto-reversing entries, at least one financial period will remain open after you close the needed period or periods.

Back to TopSystem Preparation

To prepare the system, do the following:

  1. Launch the Acumatica ERP website with the U100 dataset. Sign in as an accountant by using the following credentials:
    • Username: johnson
    • Password: 123
  2. On the Company and Branch Selection menu, also on the top pane of the Acumatica ERP screen, make sure that the SweetLife Head Office and Wholesale Center branch is selected. If it is not selected, click the Company and Branch Selection menu button to view the list of branches that you have access to, and then click SweetLife Head Office and Wholesale Center.

Back to TopStep 1: Reviewing the Statuses of Financial Periods

To review the statuses of the financial periods of 2025, do the following:

  1. Open the Company Financial Calendar (GL201100) form.
  2. In the Selection area, specify the following settings:
    • Company: SWEETLIFE (inserted by default)
    • Financial Year: 2025

Back to TopStep 2: Closing the Financial Periods

To close the financial periods, do the following:

  1. On the More menu of the Company Financial Calendar (GL201100) form, click Close Periods.
  2. On the Manage Financial Periods (GL503000) form, which opens, notice that the system has selected the Close action in the Summary area. In the table, select the unlabeled check box for the 04-2025 period. The check boxes for the preceding periods are automatically selected, as shown in the following screenshot.
    Periods selected for closing in subledgers and general ledger
    Periods selected for closing in subledgers and general ledger
  3. On the form toolbar, click Unposted Documents to verify that no unposted documents exist for these periods.
  4. In the dialog box with an informational message, which is displayed, click OK.
  5. On the form toolbar, click Process.
  6. In the dialog box with an informational message (which informs you that the selected periods will be closed in the subledgers and in the general ledger), click OK.
  7. Close the Processing pop-up window.