Month-End Module Closing Process
Sequence of module closure is important
It is done for generating/reporting financial results which inturn helps in better management decisions making. 12 Accounting period of 4 or 5 weeks. 13th and 14th adjustment period for year end set at 31st Dec. Normally starts on Monday of first week of the month and take 4-5 days to complete.
Order of closure of module during month-end sub-ledger:
1. Cash Management - Standard Bank reconciliation tasks
2. AP - After CM
3. AR - After CM
4. PO - After AP
5. FA - After AP and AR
6. Inventory - After CM, AP, AR, PO and FA
7. GL - After CM, AP, AR, PO, FA and INV
8. GL month-end (Operational SOB) - Consolidation operational SOB must be closed before running consolidation.
Sequence of module closure is important
It is done for generating/reporting financial results which inturn helps in better management decisions making. 12 Accounting period of 4 or 5 weeks. 13th and 14th adjustment period for year end set at 31st Dec. Normally starts on Monday of first week of the month and take 4-5 days to complete.
Order of closure of module during month-end sub-ledger:
1. Cash Management - Standard Bank reconciliation tasks
2. AP - After CM
3. AR - After CM
4. PO - After AP
5. FA - After AP and AR
6. Inventory - After CM, AP, AR, PO and FA
7. GL - After CM, AP, AR, PO, FA and INV
8. GL month-end (Operational SOB) - Consolidation operational SOB must be closed before running consolidation.
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