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 accruals
- Pressure of the cumulative balance
- Print due date reports for supplier payables and customer receivables to reconcile the receivables accounts with
the general ledger - Print the inventory audit report to reconcile the inventory with the general ledger accounting.
- Printing financial statements
- Create a backup copy of your database and store it in an external location.
- Closing or deactivating the business period by locking it via the Posting Period window
Account reconciliation in SAP Business One
Account reconciliation in SAP Business One is a critical component of financial accounting that ensures the accuracy and reliability of a company's financial ...
Artificial intelligence (AI) in financial accounting
In this day and age, Artificial Intelligence has what it takes to transform many industries and finance is one of them.
WEBINAR: Upgrade for SAP Business One Financial Management
Discover in a live webinar the Versino Financial Suite - the comprehensive extension package for financial accounting in SAP Business One ...
Continuous stock management in SAP Business One
In the area of finance, continuous inventory management is an essential component in SAP Business One. SAP B1, which is ...
Netting and creditors with debit balances
Netting and creditors with debit balances are two concepts used in finance to offset debts and receivables between companies ...
Payment advice in SAP Business One
In business, it is important to process payments quickly and efficiently. The payment advice note plays an important role in this. But what exactly ...
