Overview

Within period-end closing, all bank accounting and treasury-related transactions must be posted in the period they took place.

Here you will learn how to complete bank accounting and treasury processes, facilitate posting, and post all unfinished bank accounting and treasury documents in the correct accounting period.

During this process, you:

• Process the electronic and manual bank statements and reconcile bank statements.
• Identify incoming receipts that are not yet cleared or processed by the company.
• Process and post revenue and expenses related to financial activities in the correct accounting period.

As a result of the process, the bank accounting and treasury documents are posted in correct accounting period.

Perform period-end closing in bank accounting and treasury flowchart

How to reconcile cash balances

Check and reconcile cash. If the cash is in transit, note its destination and relationships. We recommend double-checking all payment accounts to ensure everything is organized (including petty cash) and properly pooled.

How to count cash on hand

Paths

How to review imported bank statements clearing state

1. Go to Treasury and click Bank account payments under Bank.

2. Click Payment export and import - Import statement / deposits into personal accounts.

3. Go to the Imported documents tab.

4. Click With errors, then Unposted.

Paths

How to perform bank reconciliation

1. Export the bank statement as of the last day of the accounting period.

2. Go to Treasury → Treasury reports and click Cash statement under Cash forecasting.

3. Set the Period.

4. Select a Company.

5. Select a Bank account or Cash register.

6. Repeat these steps for other bank accounts and cash in transit.

How to review clearing state of petty cash journals

1. Get the physical count journals of cash accounts as of the last day of the accounting period.

2. Go to Treasury → Treasury reports and click Cash statement under Cash forecasting.

3. Set the Period.

4. Select a Company.

5. Select a Cash account.

How to initiate bank or cash account clearing

1. Open the required document.

2. Create a Duty based on the document.

3. Specify the work name in the Duty field.

4. Assign it to the responsible user within the database.

5. Set the Priority and specify the Due date.

6. Describe the actions to take in the Subject field.

7. Start and close the document.

Paths

Paths

How to perform foreign currency revaluation

1. Go to Profitability & cost and click Exchange difference calculation under Month-end closing.

2. Set the period to see the documents posted in the reporting period. 

3. Click Create.

4. Select a Company.

5. Select Cash in the Revalue field.

6. Select the On the payment day and at the end of the month revaluation option.

The system performs revaluation of outstanding balances as of the last date of the month.

7. Post it.

8. Repeat the steps with the Financial instruments transaction.

9. Go to Profitability & cost → Profitability and cost reports and click Detailed calculation of currency revaluation under Month-end closing.

10. Set the Period.

11. Select Company and click Generate.

12. Review revaluation postings by financial assets.

How to restrict further posting for bank accounting in accounting period

1. Go to Master data and settings and click Users and rights settings under Settings.

2. Click the Period-end closing dates section.

3. Select the Period-end closing dates check box.

4. Click Configure.

5. Click For specified users.

6. Click Pick and select user groups or users from the form.

7. For each selected user:

• Set period-end closing date.
• Specify the Date by sections option.

• Select the section in the list.
• Specify the date for each section so that no accounting-specific transactions can be posted for the closed period.

8. Repeat it for each user selected.