| # Function: Period end processing In this function, all periodical financial activities are carried out that are required to close a period. First, provisions and recurring transactions are created, and currencies are revalued for GL, AP, and AR. Next, the trial balance and reconciliation reports are printed. Based on these printouts, you can create corrections. Finally, the period is closed and, at the end of the year, the year is closed. Process: Period end processing (code: MPO03a) The objective of this process is to perform all activities that must be carried out periodically, for example, currency revaluation, recurring entry creation, and period closing. Operations included in this variant are: Create provision: print reports and create provision. Create recurring transaction. Finalize transactions. Process FASB52 handling or revaluate currency. Perform auditing: print trial balance, review reconciliation reports, create transactions, and finalize transactions. Match ledger accounts. Close period: close period, close year provisional, and close year final. Archive or delete data. Assumptions: During auditing, the automatic ledger account matching functionality will be used. Accounts such as the suspense account and the sundry debtors and creditors accounts will be matched at the end of the period. IT support: LN Financials; General Ledger, Accounts Payable, Accounts Receivable |