Period-End Closing Overview

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Period-End Closing Overview

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

 

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 work order transactions entered as of the current period to the GL module.  

 

•When you close the last period of the fiscal year in the Manufacturing 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.

 

 

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Note: It is strongly recommended that you first review the transactions in the Manufacturing module 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 MA Transaction Journal Entries Report from the Reports menu of the Manufacturing module to review the transactions that will be permanently transferred to the General Ledger.

 

 

 

See Also

Period-End Closing

Post Data to General Ledger

MA Transaction Journal Entries Report

 

 

 

 

 

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