Use this program to close the current Accounts Receivable period. The End-of-Period Update should be run at the end of each Accounts Receivable period.
Note: The End of Period Update cannot be run if there are any cash receipts batches that have not been updated. The program read through the possible cash receipts batch files to see if any batches are unposted and displays a message if all batches are not posted and returns to the main FACTS menu.
This update enables you to:
Ü Before you run this update, make sure the following has already been printed and updated:
Access this program by choosing Accounts Receivable-->End of Period-->End-Of-Period Update.
1. Closeout period? Verify that you want to close the current Accounts Receivable period by selecting this field.
2. Have the above End-of-Period programs been run? This field is a last check to verify that ran all the necessary reports before closing this period. Check the box to indicate Yes. This field defaults to N and the program terminates if you select OK.
If you closed the last AR period less than 20 days before the system date, the program displays a message indicating the number of days since the last close and the next field appears.
3. Are you sure you want to close out this period? Check the box to re-verify that you are ready to close this period. If you do not wish to close the period, simply click Cancel in the lower right corner of the screen.
If the last AR period was closed more than 20 days before the system date, this field does not appear.
How to run the End-of-Period update