Complete the Period Close

1. Go to the Period Close menu, then click Period Close. Ensure the period listed is the period to be closed.
   
   

   Open

   

2. Tick the checkboxes to confirm each item has been done.

   • Have all offerings been recorded

   • Have all payments been recorded

   • Have all bank statements been reconciled

   If the "Have all offerings been recorded" step is not able to be ticked, a message will appear advising what needs to be completed. The period cannot be closed until this step has been done.

3. If you have entered Conference Expenses in the Expense Entry screen, and a Payment Entry has not been entered for them, they will be listed in the Conference Expenses Payable table. The Payment Amount will default to the Outstanding Amount. If you choose not to pay any or part of these charges, change the amounts in the Payment Amount column. If they are not paid they will be presented for payment again the following month.
   These payments will be automatically added to the Total Payable. 

4. Select the Payment Method from the drop-down list and ensure the correct Bank Account has been selected.

5. If you are ready to complete the period close, click Save & Continue.

   Otherwise, click Save Draft to save the selections/changes made. 

6. The Monthly Report will appear, detailing the current period's income and amount to be transferred to the conference.
   Review the report to ensure it is correct, then click Close Period. This closes the period from further entries being made, completes the Roll-Up journal in the current organisation, and the Roll-In journal in the Conference organisation.

   1. The date of the Roll-Up journal and any payments made to the Parent in Period Close will be the last day of the period that is being closed.

7. Any bank reconciliations with a variance of $0 that were not verified will have been marked as Verified.

Notes:

• If a period is reopened and a adjustment is entered that makes less income owing to the conference, an adjustment payment will go into CMF and it require approval from the conference.

• Positive adjustments will show as a separate adjustment and not require approval.

• If there is no change to the amount to be rolled-up, there will be no adjustment in CMF.

• All adjustments to period re-open only happen when the Period Close is done again.