Maintaining Fiscal Period Closure

The Fiscal Period Summary page enables you (or those users with end-of-period accounting responsibilities) to manage your fiscal period close process and the integrity of closed fiscal periods. When you close a fiscal period, system processes prevent users from running Treasury Management accounting processes for that period. This helps ensure accurate end-of-period reporting and analytical results, because any additional accounting for the period is transferred to and handled by the next accounting cycle. This type of fiscal period close is considered a soft-close of your accounting ledger, because the closure occurs only in the Treasury Management product, not the General Ledger product.

If another user (such as an accounting clerk) attempts to run accounting on entries of the closed fiscal period, the system will not run the accounting request. Functionality on the Automated Accounting and the Process Scheduler pages prevents the process request from occurring.

When you close or reset an entry or entries in a series of entries, the system enforces closing or resetting the entries in a certain logical order. This is to maintain the integrity of your Treasury Management accounting entries. You can also reset (open) any fiscal period that may have been closed in error. The system tracks and displays your most recent action for each fiscal period row on the Audit Detail page, providing an activity log.

In addition, individual business units can maintain their own Treasury Management close cycle calendars, independent of the close cycle performed for the general ledger. This means that one of your Treasury business units can close using a weekly calendar, while another Treasury business unit can close using a monthly calendar.

Before configuring the Fiscal Period Accounting Summary page:

• Confirm that only those users who need access to this page have access permission, as defined in the permission lists associated with their user profile.

• Verify that the Treasury business units that you will use in this page are defined with a calendar ID on the Treasury Options page (BUS_UNIT_OPT_TR).

See also the product documentation for PeopleTools: Security Administration.

Use the Fiscal Period Summary page (TR_FISCPRD_CLS) to close or lock down the accounting for a specified fiscal period, in preparation for end-of-period financial-report generation and analysis.

This prevents other users from rerunning Treasury Management accounting processes for the closed fiscal period. You can also reset a fiscal period that has been closed in error.

Navigation:

Cash Management > Treasury Accounting > Fiscal Period Summary

When you add rows to existing fiscal period information, the system automatically populates the Fiscal Year and Period fields with the next chronological period.

To close a fiscal period:

1. Enter the business unit and a calendar ID. Click Add.

2. Select a fiscal year.

3. Select an accounting period.

4. If you want to close this fiscal period, select the Close Acctg (close accounting) check box.

To reset a closed fiscal period:

1. Click Reset. The system enables theFiscal Year and Period fields, and automatically deselects the Close Acctg (close accounting) check box.

2. In Reset Reason, overwrite any existing text with the reason for the fiscal period reset.

The Audit Detail page lists audit information for each row.