Overview

After period-end closing results are published, they are available for analysis and review.

All relevant reports such as profit and loss statement and balance sheet in the reporting system must be submitted, validated, and published.

As a result of the process, all reporting figures will be released.

Report closing figures flowchart

Paths

How to restrict further entries for the posting period

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

2. Scroll down to the Period-end closing dates section, select the Period-end closing dates check box, and click the Configure hyperlink.

3. Click For all users.

4. In the Other methods to specify period-end closing dates section, select Single date for all sections and objects and specify a Period-end closing date to close the period to all users so that no accounting-specific transactions can be posted for the closed period.

Paths

How to report closing trial balance

1. Go to General ledger, click General ledger reports, and open the Trial balance (financial accounting) report.

2. Set a period and select a company.

3. Go to Settings and select the Functional currency (FC) and/or Presentation currency (PC) check boxes.

4. Save and generate the report.

5. Check opening and closing account balance.

6. Review the debit and credit turnover for the period.

7. Select a cell and drill down to other financial reports (see below).

8. Click  and open the following reports to analyze accounting entries by accounts and extra dimensions:

Main reports

• Trial balance (financial accounting)
• Trial balance for account (financial accounting)
• Trial balance for account with correspondence (financial accounting)
• Report on accounting entries (financial accounting)
• Summary postings (entries)
• Account analysis (financial accounting)
• Extra dimension analysis (financial accounting)

Additional reports

• Statement of counterparty AR/AP under contracts (financial accounting)
• Articulation statement (financial accounting)
• Summary postings (entries)
• Accounts and extra dimension in settings

9. Save these closing reports to the folder and print them.

Paths

How to report company-level financial statements

1. Go to General ledger and then click Financial statements under Financial reporting.

2. Click the Closing date of posting generation not set hyperlink to review if any entries are restricted for the closing accounting period.

3. Return to the Financial statements workplace and click Create to create a new financial statement.

4. Specify a validity period, select the Charts of accounts, enter financial statement details, add Financial report types in the table form, and click Save.

5. Select Report kinds included in the created financial statement and click Create in the Report kind instances window.

In the Specify report parameters menu:

1. Specify an accounting period.

2. Choose a Company, select a Currency option, and generate the report. The system will create a new report instance, fill it according to the report template and save it.

3. Open the created report and review the information. If necessary, make changes.

4. In the Comment field, type the "Created" status. 

5. Save the report to the folder and print it.

6. Repeat these steps to create reports for the following financial statements:

• Statement of comprehensive income (AIR page)
• Statement of financial position (Balance sheet)
• Cash flow statement
• Statement of changes in equity
• Notes to the financial statements