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Individual ITCs may supply slightly different instructions depending on the policies and procedures of the ITC. Therefore, these procedures are intended to be general guidelines only. |
Pre-Closing Procedures
The following pre-closing procedures can be completed any time prior to closing the fiscal year.
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The following non-GAAP reports, Inventory Report Bundle report and GAAP start up features are currently in development |
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- 5. Under Core>Fiscal Years, close the current fiscal period by clicking the Close icon.
- The Inventory FYE Report bundle (JIRA issue #INV-159; Release 1.23.0) will automatically generate when the posting period is closed. The bundle will be emailed to you in a zip formatzipped format.
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In order for the report bundle to be emailed, please click here for configuration set up prior to closing the period. |
- Closing the year will update the life-to-date depreciation amounts for the current fiscal year being closed and also update the fiscal year closed field in Core>Configuration. If the entity is currently on GAAP, the program will also update the beginning balances for the new fiscal year
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