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Financial Management

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Period and Year End Processing
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Financial ManagementWatch the Enterprise 21 Financial Management DemoEnterprise 21’s financial management functionality enables flexible and automated period and year end processing. Enterprise 21’s financial management solution allows for each business’ unique fiscal period definition. One can have an infinite number of periods open at any time, and with appropriate security privileges, closed accounting periods can be reopened for making correcting entries. Once these correcting entries are made, adjusted balances are rolled forward without the need to reopen other previously closed accounting periods. Read More...

Unlike other systems, Enterprise 21’s general ledger includes a fiscal year definition such that business processing can occur in a new fiscal year without closing and zeroing out values in the prior fiscal year. This capability allows companies to run year end processing multiple times while ensuring transactional integrity in the new business year.

Period and Year End Processing Highlights

  • Flexible, user-defined accounting period definition
  • Source journals can be closed independently
  • Supports multiple periods open at one time and allows transactions in the next period even though the previous period is not closed
  • With appropriate security privileges, previously closed periods can be reopened to make correcting transactions
  • Year end processing can be performed multiple times as necessary
  • Supports fiscal year definition within the general ledger so processing can occur in the new fiscal year while finalizing processing within the prior year
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