If AP and GL JE will finish in 10 days after the pervious month, we just use Admin>Utility>Period End Closing and choose the Year and one Period (or can choose more Periods?) to close all P/L accounts to Retained Earning account.
How many periods can be open in B1 2007?
Should we close month by month regularly when the client finished AP and GL to avoid any mistake by choosing wrong period(s)?
After Period End Closing procedure, the period will be changed from "Closing Period" to "Locked" status, right?
Each "Locked" period still be able to reopen by Finance Dept. with authorization users if they want to change any account(s) again, right?
If they reopened and entered new JEs with previous period date then need to REDO the Period End Process again or not?
Can we reprint the inventory revaluation report, AR aging and AP aging for any pervious period(s) in any later date and those figures won't change as of the end of month from that specific period end, right? If today is June 06, 2009 and want to reprint May 31, 2009 or April 30, 2009 inventory valuation or AR aging, the amount should be the same.