At the end of each period, the period's transactions should be closed out and moved into the historical data files. This is to ensure that the data in the files remain accurate and meaningful. The entrée system was designed with great flexibility in mind. This is true with closing the period as well. Because entrée is a date driven system, the period does not have to be closed on the day the fiscal period ends. Just enter the appropriate ending date when closing and the entrée system will accurately close.

 

Updated in 4.0.39 so checks/charges voided from the Bank Reconciliation Screen will be deleted during the close process.

 

Closing the period ensures that period- to-date and year-to-date total in the vendor files remain accurate. You can close the period as often as you like, depending on the accounting period your company uses.

 

•The Close Period utility has 3 close options: Close Accounts Receivable, Close Accounts Payable and Close General Ledger.

 

•You have the ability to close Accounts Receivable, Accounts Payable, and General Ledger all at the same time from a single utility. You can however, still close AR, AP, and/or GL as a single process if desired.

 

•Disable use of transaction to reduce time required to close - Check this option to turn off the use of the transaction operation during a close. This can reduce the time it takes to run a close because the added time for the transaction operation to record every write, delete and commit in the database is not performed.

 

When you check to disable the use of transaction you turn off an important safety net in the event of an error during the close process using transactions allows you to roll back your databases, which means all of the data modifications are erased.

 

When transactions are enabled, the disable option above is not checked, and an error occurs during the Close process the database is automatically restored to the pre-closing state.

 

 

For systems configured to use an external Linked Accounting add-on module (currently entrée.QB) the "consolidated" closing configuration dialog will not be used. This dialog handles the closing of Accounts Receivable, Accounts Payable and General Ledger in one setup operation.

•The AP and GL portions of the system are turned over to the external Linked Accounting application, currently the entrée.QB linker add-on module for QuickBooks.

•Only Accounts Receivable needs to be closed in entrée system.

•For systems configured for entrée or Generic accounting (located in the System ribbon menu > System Preferences > General Tab), the Close Period process will only provide an AR-only close process.

 

•There should be no users in the entrée system when this utility is being executed. This will ensure the data integrity is not compromised by another user, accessing one or more of the data files while the operation is being performed.

 

•Due to the critical nature of the close period process, only entrée system administrators should have access to this utility.

 

The entrée.GL (General Ledger) closing process is not date driven and can only close the "current" period.