The Close Period [glclose] program is used to close the Accounting Period. This program can be run anytime - weekly, monthly, quarterly, etc. (depending on your specific studio's guidelines). Before you can close the period, you must either post or delete all unposted transactions or change their Effective Dates to a date past the Current Period End Date, falling in a future period (and in the instance of some studios, all transactions may have to be paid). The Closing Report displays each postable account's Account Number, Account Description, Beginning Balance, Debits, Credits, Net Change, Ending Balance and Grand Totals for the period being closed.
|►||To access the Close Period [glclose] screen, click the 'Closing' module from the menu tree (see following screen shot). |
|►||Close Period [glclose] is also located in the 'Report' module under the 'G/L' sub-folder.|
|►||You can also access this screen by typing the screen or acronym name in the blue prompt bar located above the 'Setup' menu. Then, press Enter.|
The screen then appears.
|•||Start Date - First date of the Current Period before the closing process. Please note you can not access this field.|
|•||End Date - Last date of the Current Period; should default to today's date, but you can change it by typing over the defaulted date or by right clicking in that field for the calendar selection to appear. |
|•||Start Date - First date of the Next Period before the closing process; should default to the next date after the Current Period End Date. Please note you can not access this field.|
|•||End Date - Last date of the Next Period. This field can be left blank if you are not sure of the next time you are going to close the period.|
Please be advised if you input an End Date in the 'Next Period' section, PSL3 does not allow you to input any transactions past the date entered in this field. However, if you need to remove this date block, this can be done in the System Control Information Entry [suctrl] screen located in the 'Setup' module, then 'Reports' sub-folder by removing the Current Period End Date from there and saving. Please note you may have to log out and back into PSL3 for the update to take effect.
|•||Defaults to Edit List to review the Current Period you are closing and check for any errors (e.g., unposted transactions, etc.). If you have encountered any errors, they are listed on the last page of the Edit List along with the Reference Numbers containing the errors. To correct this, make the changes listed on the Edit List then review the Edit List again to make sure all errors have been fixed. To move forward with closing, select 'Closing Register/Close Period' followed by either the Print or Preview option.|
|◆|| Print/Preview the Report: Located in the top right hand corner of the screen, you can choose the following options to generate the report:|
|►||Print - Opens the Print Dialogue box and sends the report directly to the printer.|
|►||Preview - Generates a PDF format report and appears instantly on your screen. You are still able to print from the PDF format.|
Once you select 'Closing Register/Close Period' followed by either the Print or Preview option, PSL3 displays the following message prompt:
If you select 'No', PSL3 asks "Would you like to reprint the register?". If you still select 'No', you will receive a prompt notifying you the closing process is not done. If you select 'Yes', you will receive a secondary prompt confirming the period is now closed. Upon selecting 'Yes', you may also receive the following warning message if your Closing Edit List contained errors:
If you select 'No', the closing process is not done. If you select 'Yes', the Edit List prints out but the closing process is not completed until the errors are corrected. Please note if you are associated with a studio and depending on your specific studio's guidelines, there may be additional processes with closing the period (e.g., saving the Closing Report and sending it to your studio, etc.). Please refer to your studio for additional information regarding the closing process.