Closing a Period

Expertise Accounting
1

I am having issues with entries being made in periods after I have closed the period. How can I prevent back dating entry of any kind prior to a given date without authorization?

In every accounting software package I have ever used this capability exists, but I can’t find how to do this. Your help is GREATLY appreciated…

2

Hi Paul

You bet, this is a period closing best practice we recommend for all Cetec ERP users. To do this, head to Admin >> Config Settings >> Config Settings and search for the term “lock”.

You should find GL Lock Date and GL Lock Date Blocks Admin Also options.

In GL Lock Date, use the yyyy-mm-dd format to define the date before which no transactions are allowed anywhere in the system to post to financials.

Then, input ‘1’ in the GL Lock Date Blocks Admin Also setting if you want to enact this control even against Admin level users; this is recommended.

If you’re interested, I’ll copy/paste another comment below with a list of recommended period close related accounting tasks; these aren’t required but are best practice.

Please let us know if this helps or if you have any further questions!

Thanks

1 Like
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Periodic Accounting Tasks

At the end of any period, the following tasks should be completed.

  • Lock the G/L to prevent entry of new or changes to existing transactions prior to the lock date. To lock the G/L go to Admin > Config Settings > Config Settings and type ‘gl lock’ in the Name box. Set the date in yyyy-mm-dd format in the Value box for both ‘GL Lock Date’ and ‘GL Lock Date Blocks Admin Also’.

Export and save the following reports to reconcile with the Ledger.

  • A/R Summary via ACCOUNTING > A/R > A/R SUMMARY. Set the As Of date to the period end date. NOTE: You may want to run one report for each of the Unapplied Cash? options.
  • A/R Detail via ACCOUNTING > A/R > A/R DETAILS. Set the date range start date to a date prior to going live on Cetec ERP such as 2010-01-01 and the end date to the period end date. Set the As Of date to the period end date. NOTE: You may want to run one report for each of the Unapplied Cash? options.
  • A/R By Customer via ACCOUNTING > A/R > A/R BY CUSTOMER. Set the As Of date to the period end date. NOTE: You may want to run one report for each of the Unapplied Cash? options.
  • A/P Summary via ACCOUNTING > A/P > A/P SUMMARY. Set the As Of date to the period end date. If the ‘Voucher GL Post Date - Use Received On’ config has a Value of 1, change the Date Type to Entered On Date. Otherwise, use the default Date Type of Invoice Date.
  • A/P Details via ACCOUNTING > A/P > A/P DETAILS. Set the date range start date to a date prior to going live on Cetec ERP such as 2010-01-01 and the end date to the period end date. Set the As Of date to the period end date. If the ‘Voucher GL Post Date - Use Received On’ config has a Value of 1, change the Date Type to Entered On Date. Otherwise, use the default Date Type of Invoice Date.
  • Unvouchered Receipts via PURCHASING > RECEIPTS > RECEIPTS LIST. Change Vouchered?, Non-Inventory? and Internal Vendor? options to No. You may want to run a second report changing Vouchered? and Internal Vendor? to No, but changing Non-Inventory? to Yes for a manual accrual of Non-Inventory receipts.
  • Inventory List via PARTS > VIEWS/LISTS > LIST BY BIN. This is the authoritative inventory detail.
  • Balance Sheet via ACCOUNTING > REPORTS > BALANCE SHEET. Change As Of (Day End) to the period end date. If you have multiple locations, you may want to run a report for each location. If you have defined Cost Centers, you may want to run a report for each of those.
  • Profit And Loss via ACCOUNTING > REPORTS > PROFIT AND LOSS. The start date in the Date range should be already defaulted to the first day of your accounting year. Change the end date in that date range to the period end date. If you have multiple locations, you may want to run a report for each location. If you have defined Cost Centers, you may want to run a report for each of those.

Other Periodic Tasks

Bank Reconciliation via ACCOUNTING > AUDIT > ACCOUNT RECONCILE. Click on New Reconcile, input the Statement Date and the Ending Balance. Select the ledger Account to be reconciled. Input a .csv or .xlsx file and Update or individually check boxes for Check and Payments and Deposits. Update and Close, then print the list of Reconciled and Unreconciled items.

Year End Retained Earnings

When on a Balance Sheet, Profit And Loss or Retained Earnings page, you may see a warning (in orange) about open accounts for a year period with a link to close them into Retained Earnings. Click on the link. Review the Retained Earnings page, then click on Auto-Complete Retained Earnings. A Ledger Entry page will appear. Follow the instructions at the top of the page, scroll to the bottom of the page and click Submit Entry.

Accounts Receivable

A/R Invoice Vs Ledger Audit Report

Run Frequency: Daily/Weekly/Monthly

ACCOUNTING > AUDIT > AR - INVOICE VS LEDGER

https://demo.cetecerp.com/ar/date_comparison?from_date=2020-11-01&to_date=2020-11-30&only_bad=1

Purpose: Highlight deltas on a day by day basis, comparing Invoices, Credit Memos, Payments and Prepayments details vs Ledger entries

A/R Validation Audit Report

Run Frequency: Daily/Weekly/Monthly

ACCOUNTING > AUDIT > AR VALIDATION

https://demo.cetecerp.com/ap/validation?from_date=2020-11-01&to_date=2020-11-30&as_of=2020-12-16

Purpose: Value and number of Invoices, Payments, Unapplied Cash, and Credit Memos comparing A/R total with Ledger total, noting Delta (if any) with notes of items with bad dates and transactions in Ledger without Object ID’s.

A/R Reconcile Report

Run Frequency: Daily/Weekly/Monthly

ACCOUNTING > AUDIT > RECONCILE LEDGER - Set Type to A/R and set G/L Account

https://demo.cetecerp.com/ledger/reconcile?loaded=1&display_date_from=2020-11-01&display_date_to=2020-11-30&type=ar&last_type=ar&gl_account_id=24

Purpose: Compare Ledger entries to transaction Objects

A/R Summary

Run Frequency: Monthly - Export and save on last day of accounting period

ACCOUNTING > A/R > A/R SUMMARY

https://demo.cetecerp.com/ar/summary_new?reloaded=1&customer=&as_of=2020-11-30&skip_unapplied_cash=2

A/R Details

Run Frequency: Monthly - Export and save on last day of accounting period

ACCOUNTING > A/R > A/R DETAILS

https://demo.cetecerp.com/ar/details?customer=&from_date=2010-10-31&to_date=2020-11-30&as_of=2020-11-30&status=2&skip_unapplied_cash=2

A/R By Customer

Run Frequency: Monthly - Export and save on last day of accounting period

ACCOUNTING > A/R > A/R BY CUSTOMER

https://demo.cetecerp.com/ar/details_new?reloaded=1&customer=&as_of=2020-11-30&skip_unapplied_cash=2

Accounts Payable

A/P Validation Audit Report

Run Frequency: Daily/Weekly/Monthly

ACCOUNTING > AUDIT > AP VALIDATION

https://demo.cetecerp.com/ap/validation?from_date=2020-11-01&to_date=2020-11-30&as_of=2020-12-16

Purpose: Value and number of Vouchers, Payments, and Debit Memos comparing A/P total with Ledger total, noting Delta (if any) with notes of items with bad dates and transactions in Ledger without Object ID’s.

A/P Reconcile Report

Run Frequency: Daily/Weekly/Monthly

ACCOUNTING > AUDIT > RECONCILE LEDGER - Set Type to A/P and set G/L Account

https://demo.cetecerp.com/ledger/reconcile?loaded=1&display_date_from=2020-11-01&display_date_to=2020-11-30&type=ap&last_type=ar&gl_account_id=6

Purpose: Compare Ledger entries to transaction Objects

A/P Summary

Run Frequency: Monthly - Export and save on last day of accounting period

ACCOUNTING > A/P > A/P SUMMARY (set Date Type)

https://demo.cetecerp.com/ap/summary?reloaded=1&vendor=&as_of=2020-11-30&use_date=invoiced_on

A/P Details

Run Frequency: Monthly - Export and save on last day of accounting period

ACCOUNTING > A/P > A/P DETAILS

https://demo.cetecerp.com/ap/details?from_date=&to_date=2020-11-30&as_of=2020-11-30&use_date=invoiced_on&vendor=&vendor_id=&status=2

Unvouchered Inventory Receipts

Run Frequency: Monthly - Export and save on last day of accounting period

PURCHASING > RECEIPTS > RECEIPT LIST No to Vouchered?, Non-Inventory? and Internal Vendor

https://demo.cetecerp.com/purchaseorderreceipt/list?reloaded=1&prcpart=&receipt_date_from=2020-11-01&receipt_date_to=2020-11-30&receipt_code=&ponum=&vennum=&packing_slip_number=&vouchered=no&internal=no&lot_code=&non_inventory=no&location=&cost_center_id=

Purpose: To reconcile with Accrued/Unvouchered Receipts in Ledger

Inventory

Inventory List

Run Frequency: Monthly - Export and save on last day of accounting period

PARTS > VIEWS/LISTS > LIST BY BIN

https://demo.cetecerp.com/part/list_by_location?reloaded=1&part_search=&bin_search=&location=MN&expire_from_date=&expire_to_date=&created_from_date=&created_to_date=&abc_code=all&lot_code=&lock_bin=all&boms_only=all&column_total=1

Purpose: This is the authoritative inventory detail.

WIP Report

Run Frequency: As needed / Monthly

PRODUCTION > ORDERS > WIP MATERIAL REPORT

https://demo.cetecerp.com/otd/order/wip_material_report

Purpose: Obtain total cost of Work Orders, Stock Orders or All, Open or Closed, with Bin Locations, Pick Dates, Locations and Production Lines.

WIP Aging Report

Run Frequency: As needed / Monthly

PRODUCTION > ORDERS > WIP AGING REPORT

https://demo.cetecerp.com/otd/order/wip_aging_report?ordernum=&linenum=&prcpart=&revision=&from_date=2020-11-17&to_date=&order_type=wo_open&customer=&as_of_date=&location=&show_totals=1&show_more=0&inspection_submit=Submit

Purpose: Obtain total resale of Work Orders, Stock Orders or All, Open or Closed, with breakout of Material Cost, Estimated and Actual Labor Minutes, Estimated and Actual Setup Labor Minutes, Labor and Overhead Values and Production Lines.

4

Thank You… This was very helpful… Now I have another question. I went into the users section and found that every single user has access to everything. Whoever set up the system didn’t seem to take the time to understand what each “roll” was or what “authority” came with said rolls.

Bottom line, right now, if I lock a period, literally anyone can over ride it, because everyone has “Admin”, and many other rolls active.

Where can I find a definition of what each “Roll” has access to? I clearly need to go through all of the users and modify their “Rolls”!

Thanks,
Paul

5

After some poking around, I actually found a list of Roles and definitions for each.

6

@PaulPerger - glad you found the documentation on it!

Roles are always a bit of a pain to setup.

Recommendation: start with this doc - Suggested User Role Assignments - and assign your roles per those basic guidelines.

Then, as you move forward (and as users give you feedback about what the can or can’t do), you can do “fine tuning” using blocks and access controls. You can get fairly sophisticated with access controls if/when you need to (see docs here - User Access Control & Customized Roles )

And, another helpful thing you can do is: assign a role, then “impersonate” that user to see what their experience is like.

Good luck