Purpose
The purpose of this Quick Reference Guide (QRG) is to provide a step-by-step explanation of how to close Accounts Receivables (AR) period in the North Carolina Financial System (NCFS).
Introduction and Overview
This QRG covers the process of closing period for Accounts Receivables in NCFS which includes updates of locations, categories, and asset books etc.
User Tip
The following are prerequisites to update setup and configurations:
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Gather all required information to make the update.
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Confirm all incomplete transactions have been processed.
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Confirm create accounting has run is FINAL mode.
Update Fixed Assets Setup and Configurations
To update Fixed Assets Setup and Configuration in NCFS, please follow the steps below. There are 9 steps to complete this process.
Step 1. On the Home Page, click on the Receivables tab.
Step 2. Click on the Accounts Receivables app.
Step 3. On the Accounts Receivables page, click on the Tasks icon.
Step 4. From the Tasks pane, click Manage Accounting Periods.
Step 5. On the Manage Accounting Periods page, highlight the current period by placing and clicking your cursor between Ledger and Name.
Step 6. Click on the Close Current Period button to close the current open period.
Step 7. A confirmation message is displayed on the screen stating the period close process has been submitted.
Step 8. Click the Refresh button.
Step 9. Verify the Current Period shows the correct period.
Wrap-Up
Manage AR Periods using the above steps to close the Accounts Receivables period.
Additional Resources
- Web Based Training (WBT)