Accounts Receivable > Period-End Closing Overview

The Period-End Closing function allows you to close the company’s current period in the Accounts Receivable module and move on to the next period.

Note: Closing the period in the Accounts Receivable module will also close the period and transfer transactions in the Sales Order module.

The following are the effects of performing period end closing process:

•It advances the current period to the next period.

•If you activated the General Ledger (GL) module, the Period-End Closing function automatically makes a journal entries batch transfer of Accounts Receivable and Sales Order transactions entered as of the current period to the GL module.

•When you close the last period of the fiscal year in the Accounts Receivable module, the system automatically advances the company to the next fiscal year.

•The system will ALWAYS transfer the transaction to the General Ledger in details; whether or not the account is to be transferred in summary as set up in the Chart of Accounts Maintenance function.

Note: It is strongly recommended that you first review the transactions in the Accounts Receivable and Sales Order modules to be transferred to the General Ledger before you perform the Period-end Closing function to check the accuracy of the transactions to be transferred. You can generate the AR Transaction Journal Entries Report from the Reports menu of the Accounts Receivable module to review the transactions that will be permanently transferred to the General Ledger.

Period-End Closing Overview

Period-End Closing Overview

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