⭐ SEO-Optimized Description

Understanding how to properly close your fiscal periods is essential for maintaining accurate financial data and ensuring compliance in your accounting system. This video provides a step-by-step walkthrough of the Period-End Processing workflow within the MAS 500 General Ledger module, helping finance teams confidently manage reporting, data purging, fiscal period creation, and adjustments.

Learn how to access and use the Process Period End function under General Ledger activities, where you can view the oldest open accounting period, select a different fiscal period, and generate all required period-end financial reports. The system uses the defined closing period end date to ensure consistency across all GL reports.

This tutorial also covers how to purge General Ledger data, close the fiscal period, and handle automatic creation of new fiscal years—especially when posting to future periods. Best practices are included, such as defining future fiscal periods before year-end and managing automatic budget creation if it is enabled in your GL options.

You’ll also discover how to reopen a previously closed period through the fiscal calendar setup, allowing your accounting team to make adjustments or corrections before re-closing the period and reprinting updated reports. With MAS 500 General Ledger, you can post transactions into any future fiscal period that has already been defined, offering maximum flexibility for financial planning and period management.

This detailed walkthrough is ideal for accountants, controllers, and system administrators responsible for accurate period-end closing procedures in MAS 500. Strengthen your financial management workflows with proper fiscal period setup, reporting, and auditing processes.

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