Using Period Close Visualization

Period close is a critical accounting function for organizations. At any given point during close, the accounting team needs to know the closing progress, especially when dealing with operations in different geographic locations. In addition, the accounting team needs to know the open-period status for business units and the associated sub-ledgers in General Ledger. This ensures a timely transition to the next period for transaction processing. Period Close Visualization allows you to view, update, and manage the open-period status across the entire organization, before and during period close.

This feature uses the business unit tree (as displayed in the Tree Manager page) and shows all entities and business units in a visual hierarchy. A visual display of open periods as a hierarchical tree allows you to view the open periods for each General Ledger business unit with its subsidiaries and sub-ledgers. In addition, you can update open period ranges for one or more General Ledger business units and their application business units from this visualization page.

Use the Period Close Visualization feature to:

• Drill down and drill up using the tree visualization and perform specific actions to close and open accounting periods as needed.

• Close operating transactions from upstream sub-ledgers, post them in the general ledger, and then close your financial books.

• Verify that open periods for all application business units are closed before the open period of the parent General Ledger business unit is closed.

  This automation is important when an organization has multiple operating business units.

• Manage the open periods for each business unit and application business units by automatically rolling the open periods forward without manual intervention.

  This allows you to automatically roll open periods forward as the previous period is closed.

There are three views to choose from: Compact, Regular, and Full. The amount of information displayed for each card depends on the view selected. The examples below explain each view.

The Express Period Roll process allows you to select an entity, or business unit, and run an automated process that closes the current period and opens the next period. Depending on where you select the entity or business unit in the hierarchy, the process closes the "open" period of all lower level entities and business units, and opens the next period of all lower levels entities and business units.