System Narrative
Company Control
Structure Control
Report Requests
Journal Processing
Data Control
Posting and Closing
Period Aggregate Capability
Acctg and Control Reports
STAR
Consolidated Reporting
Allocations
Budgeting
AIM
Personal Computer Interface
Ease of Implementation
Online

Posting and Closing

The system offers an exceptional level of posting and closing flexibility. In particular, the system offers maximum flexibility to adjust and report year-end results without disrupting processing for the new year.

The following posting options are provided:

• Regular Post causes all un-posted entries to be posted each time the posting process is run.
• Trial Post can produce preliminary reports without permanently updating the Master file.
• No Post prevents a company’s journals from being posted, even though other companies’ journals are being processed.

The Posting Register provides a comprehensive audit trail of all posting activity. A summary of posting activity by account classification provides an overview of update activity.

Automated closing can be invoked at year-end or multiple times during the year. The system posts income and expense accounts to Retained Earnings and establishes the new starting balances for balance forward accounts. Additional sets of books can also be included in the automated closing.

Journal posting and reporting can take place for the new year even though the prior year is not finally closed. At the user’s request, entries can be posted to the prior year, even though it had been previously closed. The prior year can then be re-closed and all of the balances for the new year are adjusted automatically to reflect the prior year change.

Individual journals can also be posted online using the Regular Post.

A company can have 12 or 13 periods in its fiscal year. In a multi-company environment, each company can be on different fiscal years.