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It is helpful to think of the Month End Close as series of steps. There is no single “Month End Close” for the various Keystone modules. A typical closing process with respect to a Keystone module would include the following steps:
#Complete all transactions for the module.
#Set Period to “Unopened” in Setup Periods (all modules)
#Run Month End Processing (AP, AR)
#Run Distributions to G/L (AR, AP, Cash Management, Payroll)

A month is truly closed only when all entries have been made to the month and the period has been closed in Setup Periods. Implementing a monthly closing process that has only 1 period open for posting at a time can virtually eliminate posting into incorrect periods.

Also the closing process typically requires closing some modules before others. For example, AR is often closed a couple of days after the end of a period after invoicing and cash posting has been completed, AP may be closed after all of the payables invoices have been processed, while General Ledger may stay open for a couple of weeks or more until all adjustments have been made. Keystone supports this process by providing a separate Setup Periods for each module.

[[Month End Close Procedures]] for each applicable Keystone module

More on [[Setup Periods]]

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