Sweeping Transaction Accounting Events

All eligible transactions must be accounted in final mode before closing the period.

At the end of a period, you review accounting exceptions and then run the Sweep Transaction Accounting Events process to sweep the unprocessed accounting events into the next Open or Future-Enterable period so that you complete the period close. All the accounting events that aren't finally accounted are moved into the next Open or Future-Enterable period.

Run the Sweep Transaction Accounting Events process either for transactions within a business unit or for transactions across business units but assigned to the same ledger. Specify the accounting period that's in Open or Close Pending status to move the accounting events. Using the source parameter, you can choose to sweep cost accounting events, revenue accounting events, or both. You can preview the transactions that will be swept to the next Open or Future-Enterable period by running the process in the Review mode, or you can move the accounting events directly by running the process in the Update mode.

As a result of this processing, the accounting and project accounting dates are updated directly on the cost and revenue distributions. Adjustment transactions and new distributions aren't created. If the transaction is summarized, the transaction amount is reversed in the current period and summarized in the next Open or Future-Enterable period.