Valuation and close

Accountant reconciles current source balances before a period closes. The close task list covers inventory, transit, work in progress and receipt accruals alongside other entity balances. A valuation run measures delta changes for its monetary source lines, preserving the before and after carrying amounts and the exchange rate evidence. Finance Manager decides the revaluation and close separately.

• Reconcile. Complete the cutoff tasks against current source evidence.
• Calculate. Retain each monetary source, currency, rate and delta in the run.
• Approve. Keep the independent decision with the posted journal and period.

Agree the entity cutoff, exchange rate source, open period and task owners. Finance Manager should confirm which exceptions require correction before approval. Accountant should compare each calculated line with its source carrying amount and check that a run uses a stable snapshot. A later correction must have its own traceable source and decision.

Choose an entity with an open period and an unsettled invoice balance. Complete the relevant close tasks, calculate the valuation run and compare before carrying, after carrying and delta for the invoice line. Finance Manager reviews the decision. Once posted, inspect the journal and then close the period. Reopening requires explicit authority and preserves the earlier close history.

• Valuation approval inbox — Review calculated runs awaiting the finance decision.
• Open close tasks — Resolve reconciliation work before period release.

Keep physical stock and monetary revaluation as separate evidence trails. The inventory position and its layers explain owned stock cost. A valuation line instead names a supported open monetary balance, its currency, the chosen rate and the delta between before and after carrying values. The close review brings these trails together through source reconciliation and journals. Finance Manager should be able to inspect the exact run that was approved and the period it affected. If the underlying source changes, Accountant recalculates before seeking another decision rather than relying on an outdated snapshot.

A run also needs a clear response to stale evidence. If an invoice is settled after Accountant calculates its line, the source balance and snapshot must be checked again before Finance Manager approves. The corrected run should show only the remaining eligible monetary amount and its current rate. Accountant then compares the posted delta journal with the close task for that source. Warehouse Manager separately confirms any unresolved stock transit or count issue so financial review does not treat a monetary rate change as a physical inventory adjustment.

Follow the related process and check the data model when mapping your source records. During rehearsal, compare the source document, the decision and the resulting value effect. Keep the accountable person visible at each handoff.