Financial Planning & Analysis

Features

Industries

Reference

More

Start now
  1. Financial Planning & Analysis
  2. Process
  3. Accounting period validation
Process · Accounting period validation

Accounting period validation

Period Owner starts with the documents linked to a dated accounting period. Their number and total value give the owner a population to inspect before advancing the status. Advance Accounting Period moves Draft to Validated and then Validated to Posted. Each attempt produces a receipt, including a Skipped result for an invalid status.

Start now Download Proto

Step by step

  1. Inspect accounting documents Period Owner

    Read the linked document population and total value for the period.

    • Read the linked document population and total value for the period.
    • Updates Accounting periods, Accounting documents

  2. Validate accounting period Period Owner

    Use Advance Accounting Period to move Draft to Validated and retain its result.

    • Use Advance Accounting Period to move Draft to Validated and retain its result.
    • Updates Accounting periods, Operation receipts

  3. Post accounting period Period Owner

    Use the same action to move Validated to Posted and retain its result.

    • Use the same action to move Validated to Posted and retain its result.
    • Updates Accounting periods, Operation receipts

Where it usually breaks

And how to keep it from happening.

  • Match the period’s organization and dates to its linked documents.
  • Compare linked document count and total value before each advance.
  • Read each receipt’s result against the period status; Skipped cannot stand in for validation or posting.

Who does what

Roles and permissions
Period Owner
, Reviewer and Admin participate according to the record and access setup.

Set up Financial Planning & Analysis your way.

Start free, then use Proto to change fields, steps and approvals before your team goes live.

Start now Download Proto

How to get started