Overview
Every month you need to start and monitor period-end closing procedures for the group of companies.
Make sure the access to period closing documents is limited and managed carefully.
Monitor period-end closing flowchart
How to restrict further entries for the posting period
1. Go to Master data and settings and click Users and rights settings under Settings.
2. Go to the Period-end closing dates section.
2. Click Configure.
3. Click For specified users.
4. Select users participating in month-end closing activities.
5. Select Date by sections under Other methods to specify period-end closing dates.
Note
Select the Date by sections and objects option to enable additional conditions in sections for specifying the closing date.
6. Click the user, specify the date for the Bank and Cash account section to close the period so that no accounting-specific transactions can be posted for the closed period.
7. Specify the settings for each user selected.
Paths
Path | Profitability & cost → Month-end closing → Month-end closing |
|---|---|
| In-app link EN code |
e1cib/app/DataProcessor.MonthEndClosingOperations
|
| In-app link RU code |
e1cib/app/Обработка.ОперацииЗакрытияМесяца
|
How to set up and monitor period-end closing
1. Go to Profitability & cost and click Month-end closing under Month-end closing.
2. Select the Final closing option.
3. Select the closing Month and Company.
4. Click Settings.
5. Enable or disable the following settings:
- Hide operations which do not require execution. Allows you to hide operations that do not require execution in the reporting period.
- Hide operations completed successfully. Allows you to hide successful operations from the list.
- Hide explanations to operations. Allows you to hide operation explanations.
6. Disable the Auto-update when closing subordinate forms.
The system automatically checks the month-end procedures before starting if the enterprise does not use the period-end closing dates.
The system disables all procedures if the month-end period does not match the business activity period set in the company's accounting policy. This check is relevant if users are entering documents in periods preceding the business activity period.
The system automatically checks if any transaction is performed in closed periods and sends a message prompting the user to restart month-end closing procedures for the previous periods.
7. Click Configure automatic month-end closing to manage regular period-end closing. See the How to manage regular period-end closing process step below.
8. Click Configure month-end checklists to manage the available list of checks.
9. Click Configure parameters for month-end closing operations to manage the following parameters of the period-end procedures:
- Register errors diagnosed during the procedure execution.
- Settings for technical specialist.
- Preliminary month-end closing.
- Final month-end closing.
Note
We recommend that only experienced users make changes in Month-end closing operation parameters.
Otherwise, various problems may arise during month-end closing, such as slowing down the execution, incorrect calculation results, and other.
10. Get back to the Month-end procedures workplace.
11. Click Refresh on the top of the workplace to update the list of closing procedures.
The system automatically performs audits of the current state of all procedures. During the audit, all period-end procedures are automatically checked for errors. The check result determines the current status of a period-end procedure.
Look at the icons to understand the current status:
- The procedure wasn't performed or failed.
- The procedure is performed with errors.
- The procedure is performed successfully.
or blank - The irrelevant procedure.
- Be informed about it.
Click Details to drill down to the relevant:
- Workplace
- List of documents
- Catalog
- Month-end procedure protocol
- Action log
- Report
- And other
How to check readiness for period-end closing
1. Go to Profitability & cost and click Month-end closing under Month-end closing.
2. Click More actions → Jobs for calculating → Open jobs for month-end closing.
3. Set the filter by Company.
4. Find the period in the list and check if there are any records for the previous period to be sure that all previous periods are closed.
5. Get back to the Month-end procedures workplace.
6. Review the These operations must be performed manually section.
The system shows here the list of system documents (business transactions) to be performed. Usually they include Manufacturing, Sales, Purchasing, and R&M documents.
- Follow the Conduct period-end closing in production process to manage it manually.
- Follow the Perform month-end check in Purchase process to manage it manually.
- Follow the Perform month-end check in Sales process to manage it manually.
- Follow the Perform closing for repair and maintenance orders process to manage it manually.
- Click Register or Allocate to start the automatic procedure.
How to perform accounting and financial close (part 1)
1. Review the Control of financial registers section.
The system checks the consistency of entries in the ledgers for further accounting entries generation and shows if any changes must be performed.
2. Follow the Perform accounting and financial close process to manage it manually or click Perform to start the automatic procedure.
3. Review the AR/AP accounting and currency revaluation section.
4. Find the Update document register records by AR/AP procedure status.
The system checks the revaluation and calculations/allocations in AR/AP accounting and shows if any transactions must be performed.
5. Follow the Perform accounting and financial close process to manage it manually or click Perform to start the automatic procedure.
6. Review the Generate costs section.
7. Find the Revaluation of lease AR/AP accounting procedure status.
The system checks the revaluation of lease AR/AP and shows if any transactions must be performed.
8. Follow the Perform accounting and financial close process to manage it manually or click Execute to start the automatic procedure.
How to perform period-end closing in bank accounting and treasury
1. Review the Revaluate cash and financial instruments section.
The system checks the revaluation of cash and financial instruments and shows if any transactions must be performed.
2. Follow the Perform month-end check in Cash process to manage it manually or click Execute to start the automatic procedure.
How to perform periodic fixed asset depreciation and intangible asset amortization
1. Review the Generate costs section.
2. Find the Fixed asset depreciation charge procedure status. The system checks if any depreciation accruals must be performed.
3. Follow the Carry out periodic fixed asset depreciation process or click Charge to start the automatic procedure.
4. Find the Intangible asset amortization charge procedure status. The system checks if any amortization accruals must be performed.
5. Follow the Perform periodic amortization of intangible assets process or click Charge to start the automatic procedure.
6. Find the Fixed assets and intangible assets movement generation procedure status.
7. Check if any actions are required. Find the processes where this step is performed in the A2R Fixed assets management scenario.
8. Review the Cost calculation section.
9. Find the Calculation of fixed assets and intangible assets value procedure status.
10. Check if any actions are required. See how to Perform initial recognition of fixed assets.
How to perform closing in payroll
Follow the Perform closing in payroll process.
How to perform profitability analysis
1. Review the Generate costs section.
2. Find the Register timesheets charge procedure status. The system checks if any work output must be registered.
3. Follow the Perform profitability analysis process or click Register to start the automatic procedure.
4. Review the Production expense allocation section.
5. Find the Configure expense allocation procedure status. The system checks if any Expense allocation must be registered.
6. Follow the Perform profitability analysis process or click Execute to start the automatic procedure.
7. Review the Cost calculation section.
8. Find the Cost allocation and cost calculation procedure status. The system checks if this procedure was performed successfully or not.
9. Click the Calculate hyperlink to start the automatic procedure.
10. Review the Profitability & cost generation section.
11. Find the Generate expense allocation documents procedure status. The system checks if any Expense allocation must be registered.
12. Follow the Perform profitability analysis process or click Register to start the automatic procedure.
13. Find the Allocate expenses by lines of business procedure status. The system checks if this procedure was performed successfully or not.
14. Click Allocate to start the automatic procedure.
15. Find the Allocate income by lines of business procedure status. The system checks if this procedure was performed successfully or not.
16. Click Allocate to start the automatic procedure.
How to perform accounting and financial close (part 2)
1. Review the Financial accounting section.
2. Find the Financial accounting posting procedure status.
3. Follow the Perform accounting and financial close process to manage it manually or click Record to start the automatic procedure.
4. Find the Exchange difference calculation in the functional currency procedure status.
5. Follow the Perform accounting and financial close process to manage it manually or click Calculate to start the automatic procedure.
6. Find the Closing of ledger accounts of income and expenses procedure status.
7. Follow the Perform accounting and financial close process to manage it manually or click Close to start the automatic procedure.
8. Find the Exchange difference calculation in the presentation currency procedure status.
9. Follow the Perform accounting and financial close process to manage it manually or click Calculate to start the automatic procedure.
10. Find the Posting generation closing date procedure status.
11. Follow the Perform accounting and financial close process to manage it manually or click Set to start the automatic procedure.
How to report closing figures
Follow the Report closing figures process.
How to manage regular period-end closing
1. Go to Profitability & cost and click Month-end closing under Month-end closing.
2. Select the Final closing option.
3. Select the closing Month.
Manually in one click
1. Select the Company.
2. Click Run procedures.
Manually in step-by-step mode
1. Select the Company.
2. Find procedures to be performed and click Execute (or other commands) next to them.
3. Monitor the progress of the month-closing procedure step by step.
Automatically on schedule
1. Click Settings → Configure automatic month-end closing to manage regular period-end closing.
2. Select the Company.
3. Select the required check boxes.
4. Select the Final closing option.
5. Set the schedule.
The system will create the Month-end closing for company scheduled job that will trigger month-end closing procedures.
Note
You can simultaneously perform month-end closing for each enterprise company. Meanwhile, you cannot run several sessions by a company simultaneously as it is automatically locked by the application. The application also considers relations of companies using the intercompany scheme, as well as those using fixed assets and intangible assets together with other enterprise companies. Month-end closing procedure is performed for such companies only simultaneously.
To manage the load on the information system, users with administrator rights can access the settings of the technological parameters of the closing stages of the month. This allows them, for example, to adjust the parameters that affect the calculation speed.