About the GL Month End Close Form
When you are finished posting and processing entries for a month, you can use the GL Month End Close form to close the sub ledgers and/or the general ledger for a specified month.
The act of closing a month indicates that it is complete and accurate, and that no additions or corrections are needed. Once closed, you will still be able to run journal and trial balance reports as well as financial statements on the month, but you will no longer be able to post or make corrections to the month.
You have the option to close all of the subsidiary ledgers at one time or to close the AP and/or AR independently from all other sub ledgers.
Closing AP and/or AR separately allows you to restrict posting in AP and/or AR, while leaving other modules open for month-end activities (e.g. posting cost and/or month-end adjustments, running allocations, etc.).
Be aware that closing a month in AP and/or AR before closing the other subsidiary ledgers will limit the batches created in AP and/or AR, as well as batches initiated in other modules containing AP and/or AR transactions:
Closing AP limits batches created in PR AP Update, SL Update, MS Hauler and Material Payments, and IM uploads of AP transaction data.
Closing AR limits batches created in JB Progress Billing, JB T&M Bill Init, JB Interface, JB Batch Process, MS Invoice Edit, MS Invoice Initialize, and IM uploads of AR transaction data.
You can keep the subsidiary ledgers open for as many months as desired, depending on the maximum number of open months allowed (defined in GL Company Parameters).
The General Ledger may be closed in any month equal or prior to the subsidiary ledgers. In other words, you cannot close the General Ledger for any month in which the subsidiary ledgers have not been closed.
When this button is pressed, a system-wide search is made for unprocessed information based on the modules being closed.
If none is found, the OK button can be pressed to close the month. However, if unprocessed information is found, a message displays indicating that the month is not ready to close. You will need to check each of the tabs at the bottom of the form to identify the information that must be processed before you can close the month.
Unposted Batches — Lists all unposted batches. Information shown includes the HQ company, month, batch ID, source, the batch creator, who the batch is in use by, and status.
AP Prepaids — Lists all unprocessed prepaid transactions. Information shown includes the AP company, month, transaction #, vendor, and CM reference number.
AP Unapproved Invoices**— Lists all unapproved invoices. Information shown includes the AP company, month, sequence, and vendor. Informational only—not required to close a month.
JB Invoices — Lists all unprocessed JB invoices. Information shown includes the JB company, bill month and number, and contract/customer.
PR Pay Periods — Lists all payroll periods that have not been fully processed and closed. Information shown includes the PR company, PR group, pay period ending date, and the final update status for JC, EM, GL, and AP.
MS Uninvoiced Tickets — Lists all unprocessed MS invoices. Information shown includes the MS company and month, and the transaction, customer, ticket, and haul transaction number.
MS Hauler Payments** — Lists all unprocessed hauler payments. Information shown includes the MS company, month, transaction number, vendor, ticket number, and haul transaction number. Informational only—not required to close a month.
MS Interco Invoices — Lists all unprocessed intercompany MS invoices. Information shown includes the MS company and month, the invoice number, ‘sold to’ company, and invoice date.
MS Vendor Payments** — Lists all unprocessed MS vendor payments. Information shown includes the MS company and month, transaction number, material vendor, and ticket number. Display on this tab is limited to 500 records, so the list may not show all existing hauler payments. Informational only—not required to close the month.
SM Invoices - Lists all unprocessed SM invoices. Information shown includes the SM company, GL month, invoice number, SM work order and work order scope, and the 'bill to' customer.
PM Corrections - Lists all PM module error corrections that have not been interfaced.
If you have pulled Miscellaneous work completed lines into a batch, but have not posted the batch, they will display on the Unposted Batches list with a Source of "SMLedgerUp".
** A month can be closed when unapproved invoices and/or hauler payments exist, as long as no other unprocessed detail exists. If all other detail is processed, but you have existing unapproved invoices and/or hauler payments, you will receive a message (or messages) indicating that you will be closing Sub Ledgers that still have unapproved AP invoices and/or MS hauler payments once you press OK to close the month. You can select Yes to go ahead and close the month or No to cancel.
Use the information shown to locate and process the necessary items. Once all information has been processed, the month can be closed.
Reopening a Month
You may reopen a month in either the subsidiary ledgers or General Ledger by entering any previously closed month.
Once the month has been entered, the following message is displayed:
“Last month closed will be rolled back to XX/XX. You will only be able to post batches between XX/XX and XX/XX Continue?
Be aware that if you answer Yes and reopen the closed month, this may restrict the processing capabilities of other employees, depending on the Max # of Open Months specified in GL Company Parameters. Because of the implications of this action, it is suggested that access to this program be restricted to only one or two people.