Use this activity to close or finally close an accounting period in the main calendar. As the accounting calendar is always connected to a ledger, the required accounting year and the ledger should be selected for closing a period for the General ledger (GL) or an Internal Ledger (IL). If you want to close an IL period, the corresponding GL period must be closed first.
Before the accounting period is closed, the following must have been completed:
Before an accounting period can be finally closed, the following should have been completed.
As a result of this activity, the period is closed for all user groups. This means that no postings can be entered in the accounting period. The program checks that all the period transactions are updated. If there are vouchers in the hold table, they must be updated before the period can be closed. You can reopen a closed period to enter additional vouchers in it. The new transaction can affect the period reconciliation.
Once an accounting period has been finally closed it cannot be reopened.