Period End Close {FGLM-6}
This option, in general terms, closes down the current period / cycle and opens the next period / cycle.
Before activating this option, the user should control that all
transactions for the current period have been correctly posted and that
the ledger is in balance. It is, therefore, important that the
financial officer prevents other users from processing transactions for
this period by ensuring that other subsystems are in GL-cycle +1, run a
Trial Balance, check different control totals, balancing input registers
with ledger totals and do corrections if needed.
Balancing the ledger in total comprises the following:
Ledger Totals (Previous Period) + Total of transactions in this period = Totals carried forward to new period.
After everything has been checked and balanced, proper backups must be taken after which this option can be executed.
When this option is executed, it will firstly check whether any of the
Ledgers as defined in option {FCSC-3}, have not reached its year-end
cycle. If so, it will respond with: "One of the Ledgers requires a Year
end". The "Year-end indicator" in the definition of Ledgers, as per
option {FCSC-3}, will be (N)o during the year. When the year-end of a
specific ledger is reached and the user executes a period end, the
system will respond with a note explaining that one of the ledgers
requires a "Year-end". The user can then proceed with the period end of
the other ledger(s). The system will set this indicator to (Y)es,
which is an indication that this ledger requires a year-end but that it
has not yet been done. As soon as the year-end for this ledger is
executed, the system will reset this indicator to (N)o.
In summary, the Period End Close program (PEND) will do the following:
-
move totals of current cycle into totals of "previous period"; *
update the financial year and cycle wherever it is carried, e.g. on
cost centre, transaction types and in control files; * set the new
cycle as "active" after controlling that the cycles of other subsystems
are not smaller than the cycle of the General Ledger.
| User Selection |
Prompt Text
* an item between square brackets [ ] is the default
answer |
Type
&
Length |
Comments |
| |
None. |
|
|
| System Select |
|
| |
No special system selection |
Example:
Processing
Rules |
|
| |
No special processing rules. |
See Also:
History of Changes
| Date |
System Version |
By Whom |
Job |
Description |
| 29-May-2008 |
v01.0.0.0 |
Charlene van der Schyff |
t145484 |
New manual format. |
| 26-May-2009 |
v01.0.0.1 |
Charlene van der Schyff |
t158348 |
Edit language obtained from proof read language Juliet Gillies. Added Image. |
