KB240: End of Period Accounting Processes

Topic: VisualRATEX End of Period Accounting Processes

Closing out an accounting period is a very involved, detail-oriented process -- every step is important, and missing just one can cause problems to snowball. If this is your first time closing out a period, or even if you've done this before, please read the attached document to learn about the various procedures involved in end of period processes.

This document is divided into five sections:

I. Prior to End of Period Processing Procedures
II. First Day of the New Accounting Period
III. Closing Procedures
IVA. Months 1-11: Final End of Period Closing Procedures
IVB. Month 12: Year End Procedures

Each section has steps for module preparation and the steps that must be completed.

If you have any questions about the procedures in this document, please call or submit a ticket.