Ledger and close

Close from evidence and dependencies

Opening a period creates tasks from the captured checklist version. Each task retains its owner, dependency, due date and supporting evidence. An editable completed-task count does not establish readiness by itself.

SoftClose limits postings to authorized adjustment scope while preserving the normal-subledger cutoff. Controller authorizes HardClose after the required checks. A late document retains its original date and uses an explicitly chosen permitted posting period; it does not silently reopen the old ledger.

Compare actuals with an approved budget

Budgets hold entity, fiscal year, account, cost centre and period amounts by version. An independent Controller provides the declared approval authority, and the selected approved version is locked for reporting. Preparation, approval and locking retain their actual actors rather than relying on an undeclared executive title.

Profit and Loss by Entity identifies the budget or forecast version used and its currency basis. A later forecast does not rewrite a prior comparison. Budget entry and approval remain subject to the assigned scope and evidence.

Keep asset books separate

An accepted capital purchase creates the asset basis through its approved bill coding. Opening assets use a reconciled migration baseline rather than a fabricated current acquisition. Asset categories supply the required account mappings and default method; the asset book retains the actual depreciation inputs.

Book and tax depreciation use separate schedules and balances. A tax run does not add another charge to the financial-book accumulated depreciation. Units-of-production and declining methods retain their quantities, rates and convention inputs rather than relying on a method name alone.

Impairment, transfer and disposal have their own reviewed asset movements and carrying-value effects. Depreciation lines preserve beginning value, charge and resulting book basis, so a later master edit cannot change the meaning of a posted run.

Revalue and settle with consistent carrying amounts

Revaluation identifies the eligible open foreign-currency balances, their existing carrying values and the closing rate. The posting records the change in functional value with item-level evidence. Linked reversal or replacement rules prevent a rerun from adding the same unrealized movement twice.

Settlement adds only the exchange difference from current carrying value. Prior unrealized gains or losses move to realized through an offsetting reclassification, without another net gain. Bank disposal remains separate from invoice settlement; payment currency stays distinct from document currency.

Review tax before filing or payment

Tax filings retain jurisdiction and reporting scope separately from the posting and payment periods. Additive tax, withholding, recoverable input tax and non-recoverable cost follow their configured treatment. Employer payroll taxes remain separate from pension and other employer contributions.

The filing uses finalized source tax and its configured or external-authority evidence. Controller reviews the return and records actual filing confirmation. Payment is a separate settlement event; preparing a filing or bank request does not establish that the liability was paid.

Reproduce the consolidated pack

Consolidation maps the reporting period to each included entity’s actual source periods and locked posting revisions. Ownership, method and rates are captured as of the reporting basis. Different local calendars do not reuse one entity’s period identifier as if it were the group’s calendar.

Full, Proportional and Equity methods retain their distinct treatment. Account-specific translation, partner-level eliminations, investment and noncontrolling-interest workings explain the result. Controller reviews and locks the pack; any later correction produces a linked new run while the originally issued pack remains reproducible.

Trial Balance, Balance Sheet, Cash Flow Statement and the supporting subledger reports use stated populations and currencies. Cash Forecast counts each obligation once as it moves from a bill into an authorized payment instruction.