Source truth: - Financial Periods - Close - Posting and Reversal
Period Close
This page describes the period close process.
Procedure
- Run close checks and review close readiness.
- Resolve or explain exceptions.
- Post needed adjustments.
- Review reports.
- Approve the soft close or year-end hard close.
Notes
- Use soft close for review and reporting.
- Reserve hard close for year-end or completed periods.
- Treat blockers as close-stopping issues until resolved or explicitly waived under policy.
- Treat warnings as review prompts.
- Record waiver reasons clearly enough for later review.
- Base hard-close approval on the latest readiness state.
- Retain close evidence or report snapshots when policy requires them.
Close readiness
A close readiness review should make clear:
- which period is being reviewed;
- whether the review is for soft close or hard close;
- which blockers and warnings exist;
- which issues were waived;
- who approved close or waiver actions;
- what supporting evidence exists for the period.
Waivers are controlled exceptions. They should remain visible and should not silently remove the underlying issue from history.