Single Accounting Periods

For each accounting period you close, the following Apex batch jobs are executed:

  • Close Accounting Period:
    • Carry opening balance to next sequential Accounting Period.
    • Potentially calculate current year earnings in Financial Cubes.
    • Potentially calculate retained earnings in Financial Cubes.
  • Create Billing Aging History records.
  • Create Payable Aging History records.

 

For each accounting period you open, the following Apex batch jobs are executed:

  • Open Accounting Period:
    • Remove opening balance from the next sequential Accounting Period.
    • Delete any current year earnings in Financial Cubes.
    • Delete any retained earnings in Financial Cubes.
  • Delete Billing Aging History records.
  • Delete Payable Aging History records.

 

Multiple Accounting Periods

If you open or close multiple Accounting Periods, then this sequence of Apex jobs is iterated for each Accounting Period you open or close.

  • For a set of Accounting Periods that you request to open, the most recent Accounting Period will be opened first.
  • For a set of Accounting Periods you close, the least recent Accounting Period is closed first. 

 

Managing Multiple Requests

Accounting Seed Financial Suite determines if an open or close Accounting Period is in progress by executing a query against the Apex Job object. This query checks for the existence of any in-progress Accounting Period open or close Apex Job. 

There is a lag between the time an Apex Job, such as the open accounting period, finishes and the next one starts. If someone submitted an open or close Accounting Period request while another open or close Accounting Period request is in progress, the potential exists that the second request would be processed since no Apex Job record exists in the table. 

In order to prevent this situation from occurring, Accounting Seed introduced a 3-minute time delay before another open or close Accounting Period request can be submitted. This means that after you open or close a set of Accounting Periods, you will need to wait 3 minutes to submit another Accounting Period open or close request. 

To mitigate the impact of this change, customers should submit open or close Accounting Period requests for sets of Accounting Periods from the Accounting Period list view. You can submit a request to open or close up to 12 accounting periods. 

Submit a request to open or close multiple accounting periods:

  1. Select up to 12 accounting periods from the Accounting Period list view.
  2. Click the Status field on any record in the selected set.
  3. In the Edit Status dialog box, select either Open or Close.
  4. Select the All (x) selected records radio button option.
  5. Click the Save button.
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