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The month-end closing is a process used to automatically generate specific documents, verify and adjust the balances of GL accounts at the end of the selected period. If the process ends with errors, you may need to review the documents related to the period, make sure they are posted and corresponding tax documents are generated and posted. The tool is also used to close the financial year.
Note. In FirstBIT ERP, month-end closing does not imply any restrictions on user actions – after the month is closed, you can return to any previous month to enter or edit transactions. If you changed documents in any of past monthsif needed, you can open a prior closed month—for this, click the Cancel Month-End Closing button and make necessary changes to the period-related documents. Then, you must again perform month-end closing for this month and each later month until the current month after.
On the form, you can view statuses of the current year's periods. For each month, you can view which processes were selected for execution and whether these processes were executed successfully.
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