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Period management controls when financial transactions can be posted and when reporting is considered complete. It is normally restricted to authorized accounting administrators.

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Initial setup

1

Create the fiscal year

Use Accounting and Finance > Master Data > Fiscal Year and confirm start/end dates and periods.
2

Enter beginning balances

Use Setup Beginning Balance and reconcile account totals to the approved migration source.
3

Review currencies and rates

Confirm required currencies and opening-period exchange rates.
4

Validate accounting masters

Review account, charge, tax, and budget mappings.
5

Run opening reports

Confirm the trial balance balances and agrees with the approved opening position.

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Month-end process

  1. Communicate the transaction cut-off.
  2. Complete authorized operational charges, bills, invoices, advances, settlements, payments, and receipts.
  3. Reconcile cash/bank, AP, AR, taxes, advances, and interbranch balances.
  4. Resolve empty/unbalanced journals and posting errors.
  5. Review unbilled jobs and estimate-to-actual variance.
  6. Run and approve trial balance and financial/management reports.
  7. Use Closing Job and Period > End of Month Process only after authorized sign-off.
  8. Retain the checklist and review evidence.

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Corrections after close

Do not reopen or change a closed period informally. Document the reason, evaluate affected reports and taxes, obtain approval, use the authorized reopening/correction action, and repeat the close review after correction.
Period closing affects financial reporting. Limit access and maintain segregation between preparation, approval, and final close.
Last modified on August 13, 2026