Month-end or quarter-end procedures, or both, to review financial transactions and make corrections and adjustments.
The period-end closing includes the following tasks:
- Ensure that all transactions for the period have been properly accounted for, including adjustments and Demarcations
- Pressure of the cumulative balance
- Printing of due date reports for supplier liabilities and customer receivables to reconcile the receivables accounts with
the general ledger - Printing of the inventory audit report to reconcile the Inventories with the general ledger
- Print from Annual financial statements
- Create a backup copy of your database and store it in an external location.
- Close or deactivate the business period by locking it via the Posting period window
Versino Financial Suite
With the Versino Financial Suite makes period-end and year-end closing in SAP Business One faster, more secure and more transparent: Automated accruals and deferrals, real-time control of balances, drill-down to all individual transactions and a verified export function minimise errors and reconciliation work and significantly increase process reliability for SMEs.
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