Month end close

Update 2/15/2021 at 11:45 a.m.: The January period is now closed. Soon, General Accounting will share a closing schedule and guidance for February close.

Original post:

General Accounting is working on their first month end close for January 2021. The month cannot close because of outstanding nonoperational transactions with an accounting date in January. There are approximately 50 transactions in this status that are preventing the close. General Accounting will change the dates on these transactions to February 1, which will send a notification for approval back to the initiator. It will then be approved by General Accounting and post in February.

Manual journal entries, ETRs, and revenue transfers are the main types of transactions impacted. Generally, operational transactions with a January accounting date will not be impacted. These include invoices, purchase orders, etc.

For February close, General Accounting will provide a closing schedule and guidance for departments.