In this chapter, we will cover:
Closing the Inventory
Closing the General Ledger
At the end of every period, accounting books need to be closed. In this chapter, we will look at the core steps required to close the financials periods.
2. All the transactions for the period are completed in the Subledger. All outstanding issues are resolved.
3. Run the Invoice Validation Report in Payables.
4. Review and resolve holds in Payables.
5. Run Purchasing Receipt Accruals.
6. Run Mass Additions Create for Assets.
7. Post Mass Additions.
8. Run Depreciation.
9. Create Accounting for transfers from the Subledgers to the General Ledger.
10. Run Payables Accounting Process to transfer to the General Ledger.
11. Run Receivables to transfer to the General...