Closing payables function calendar

This page allows you to close a payables function calendar. Tell me more.

Select the “Close Payables Function Calendar” link under the “Financial Calendar Closure” business component.

The “Close Payables Function Calendar” page appears.

Enter the following fields:

Business Function Group	Use the drop-down list box to select the business function group for which you want to close the payables function calendar. All the business function groups associated to the payables management business process chain will be available for selection in the ascending order.
Org. Unit	Use the drop-down list box to select the organization unit in which the business function group is available. All the organization units in which the business components forming a part of the selected business function group have been deployed will be available for selection in the ascending order. The system displays “All” by default on launch of the page.
Finance Book	Use the drop-down list box to select the code identifying the finance book for which the payables function calendar must be closed. Use the drop-down list box to select the code identifying the finance book that is to be closed. All the finance books that have been mapped to the “Finance Book Processing” business component corresponding to this Financial Calendar Closure” business component will be available for selection in the ascending order. The system displays “All” by default on launch of the page.

Note: If “All” has been selected in the “Org. Unit” field, all the finance books that have been deployed in all the organization units will be available for selection in the ascending order.

Closure Type

Use the drop-down list box to select the type of closure for the payables calendar from “Provisional Closure” or “Final Closure”.

Provisional Closure – indicates that the financial year / period has been closed for an interim time. The system arrives at the closing balances which can be used as the opening balances of the subsequent period / year. The finance book must be “Finally Closed” later. Posting of financial entries is possible after the “Provisional Closure” based on the parameters set at the company level.
Finally Closed – indicates that the financial year / period has been finally closed for the finance book. You cannot post any payables management transaction for the closed financial year / period. There must also be financial year / period subsequent to the one that is closed so that the closing balances can be transferred.

The system displays “Provisional Closure” by default on launch of the page.

Close Period / Year

Use the drop-down list box to select whether you want to close the financial period or the financial year from “Period” or “Year”. The system displays “Period” by default on launch of the page.

Note: If “Year” is selected financial periods will not be available for selection in the “Financial Period From” and “To” fields.

Financial Year

Use the drop-down list box to select the financial year that you want to close. All the financial years that are in the “Open” status and are before the current financial year will be available for selection in the chronological order. The system displays the start date and the end date of each of the financial years. The date range of the “Open” financial years must be before the system date

Note: The financial years will be available for selection based on the combination of the business function group, organization unit and the finance books that is selected.

Financial Period From

Use the drop-down list box to select the financial period that you want to close. All the financial periods that are in the “Open” or “Provisionally Closed” status before the current financial period will be available for selection in the chronological order based on the selected financial year. The system displays the start date and the end date of each of the financial periods. The current financial period will not available for selection.

Note: All the financial year prior to the selected financial year for “Final Closure” / ”Provisional” / ”Closure for MAC” must be in the “Finally Closed” status.

Use the drop-down list box to select the financial period till which you want to close. All the financial periods that are in the “Open” or “Provisionally Closed” status before the current financial period will be available for selection in the chronological order based on the selected financial year. The system displays the start date and the end date of each of the financial periods.

If you want to close the payables function calendar for multiple periods, you can specify the starting and ending of the range in the “Financial Period From” and “To” fields. The system will close all the financial periods that fall within this range.
Click the “Get” pushbutton to retrieve the calendar details.

The system retrieves and displays the following in the “Financial Year Details” group box based on the selected combination of the business function group, organization unit and the finance book:

Financial Year Code	A code identifying the financial year.
Description	A description of the financial year.
Year Status	The status of the financial year. It must be “Open” or “Provisionally Closed”.

The system displays the following in the “Financial Period Details” multiline:

Financial Period Code	A code identifying the financial period.
Description	A textual description of the financial period.
Start Date	The date on which the financial period begins.
End Date	The date on which the financial period ends.
Period Status	The status of the financial period. It must be “Open”, “Provisionally Closed” or “Finally Closed”.

Note: For the closure of the financial year, all the business function groups prior to the selected business function group must be closed. For the closure of the financial period, it must be closed if “Close preceding BFG” has been

Click the “Close” pushbutton to close the selected calendar for the “Payables” business function group.

The system updates the status of the Financial Year / Period as ‘Closed’ only if there are no transactions pending for authorization in “Payables Management” business component.

If the parameter ‘All Auto Match Failed‘ Invoices during Period Closure” field in the “Set Function Defaults” is set as ‘Yes’, the system closes the payables calendar even if invoices exist in ‘Auto match failed’ status.

The system updates the status of the financial year as “Provisionally Closed” if all the financial periods in the year are in the “Provisionally Closed” status.

The system updates the status of the financial year as “Finally Closed” if all the financial periods in the year are in the “Finally Closed” status.

To proceed, carry out the following

Select the “BFG Components” link at the bottom of the page to view the list of the business components that form a part of the business function group.
Select the “Pending Transactions” link at the bottom of the page to view the list of unauthorized inventory management transactions available in a finance book..
Select the “Period Closure Status” link at the bottom of the page to view the status of the financial periods.
Select the “Preceding BFG Closure Status” link at the bottom of the page to view the status of the preceding business function groups.

Closing payables calendar – An overview

Financial entries pertaining to any payables functions cannot be posted in a finance book when the financial year is closed. This page allows you to close a selected financial period or year “Provisionally” or “Finally”. You can select the business function group and the organization unit in which the business components have been deployed. You can also select whether you want to close a financial year or a financial period. All the financial year and periods that are in the “Provisionally Closed” or “Open” status will be available for selection in the ascending order. The status of the financial year is updated as “Finally Closed” if all the financial periods in the year are in the “Closed” status.