3.10.1 Financial Year Closure

This topic provides the systematic instructions to create financial year closure.

Operational Ledger allows you to extend financial closure for a specific number of days. You can enable the Financial Closure Extended Period Required toggle button and define the number of Financial Closure Extended Period Days. This can also be done through the Bank Parameters screen.

The Financial Year Closure screen enables manual closure of the financial cycle during the extended period window.

To execute financial year closure

  1. On the homepage, click Menu and click Operational Ledger, and then click Operation. Under Operation, click Financial Year Closure.
    The Financial Year Closure screen displays.

    Figure 3-10 Financial Year Closure


    Description of Figure 3-10 follows
    Description of "Figure 3-10 Financial Year Closure"

  2. Specify the following details, for more information on fields, refer to the field description table below.

    Table 3-11 Financial Year Closure

    Field Description
    Branch Code

    Select the appropriate branch code from the option list to view the financial closure details.

    Financial Cycle Displays the financial cycle for the selected branch code only if it remains open during the extended period.
    Period Code

    Display the last period code of the financial cycle for the selected branch code only if it remains open throughout the extended period.
    Status Displays the status of the selected branch as either O (Open) or F (Failed).
    • During the extended period, the status remains O.
    • If the financial cycle closure attempt fails within the extended period, the system updates the status to F.
  3. Click Execute button to submit a financial cycle closure request during the extended period window.

    At the end of the extended period, the system will automatically close the financial cycle during the end-of-day (EOD) batch process.

Parent topic: Financial Cycle and Periods Closure