Inventory Period Close

Menu Path: Warehouse Management $Images\bluerarw.gif$ Posting and Period Controls $Images\bluerarw.gif$ Inventory Period Close

Purpose

Close inventory periods, preventing additional posting.

Overview

Use Inventory Period Close to close inventory periods. You can have as many open inventory accounting periods as you want. All periods are originally open by default.

You cannot close a period if any of the following are true:

Material was inventory adjusted, but not posted.
A work order was inventory adjusted, but not posted.

Closing Periods

To close periods:

Click the Lookup button at the right of the Year field and select a year for which you want to close periods.

Note You can only change the year if the Allowed to Access All Years check box is selected in User Profile Maintenance.

Select the Close check box for periods you want to close.

Note You cannot close periods that have unposted inventory receipts or adjustments. If you cannot close a period because there are unposted transactions, but there are no transactions to post, verify that all accounts resolved correctly in Inventory Adjustment Post.

Click the OK button in the ribbon. The selected periods are closed, and no longer can be selected for inventory transactions.

Note Closing all periods in a year does not close the year. You must use Inventory Year Close to close a year.

Ribbon Home Tab Buttons

Button	Description
Exit	Click this button to close the Inventory Period Close window.
OK	Click this button to close the selected period(s). A warning message displays if there is any open activity for the selected period(s).

General Tab Fields and Buttons

Field or Button	Description
Current Period	This field displays the current accounting period.
Year	Click the Lookup button to select the accounting year for which you want to close periods. This defaults to the default current year. Note You can only change the year if the Allowed to Access All Years check box is selected in User Profile Maintenance.
Periods	These fields display the defined accounting periods.
Status	These fields display the status (CLOSED or OPENED) of each period.
Close	Select this check box for periods you want to close. This check box is only available for periods that are open for the selected year. This check box is not available for the current period. Note You cannot close periods for which there is open activity.