Purpose: The purpose of these initial exercises is that the instructor will use them for demonstrating the basic functionality in Period Reconciliation, which entails:
Purpose: The purpose of this exercise is to show you how to close an accounting period. Before the end of period transactions occur, the period should be closed to all users except those who are completing the end-of-period processes. Closing ensures that the normal daily operating transactions are entered into the current operating period and prevents them from being entered into the prior period.
Windows:
Accounting Periods
Query for the year in which the consolidation will occur.
Select the line for the period that was just completed. Right-click and then click User Groups per Period.
Change the period status to Closed for all user groups except the group or groups that will be processing end-of-period transactions.
Save your changes.