GCS Software LLC

Close Period

G/L→Maintenance→Close Period

The G/L – CLOSE OR RE-OPEN PERIODS feature provides options for closing and/or re-opening

accounting periods by section/module. The program includes closing options for the four primary accounting components, (Accounts Receivable, Invoices, Accounts Payable, and the General Ledger), and optionally finished goods and raw material inventories. Each of the sections can be independently closed by specifying a closing date in the corresponding field. A closed period may also be re-opened (when applicable) by editing the existing date. Invoices can be closed independently at any time prior to closing Accounts Receivable. Closing the Accounts Receivable will automatically close and restrict invoicing activity for the period. Accounts Payable and Accounts Receivable can be closed

independently at any time prior to closing the GL. Closing the period for General Ledger automatically closes all other sections. Dates entered here represent the end of a period. Each time an ending date is entered here, the system closes the previous period and readies the system for the current period.

Preferences

There are preferences to show the inventory close dates as well as the option to close by division. The close by division option can only be utilized if using divisional GL codes.

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