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Implementing Manufacturing and Materials Management: From Empty Plant to Costed Work Order · Module 17 · Cost Processing and Close

Cost accounting period close

Lesson 179 of 188 · 12 min

Review the pre-close checklist. Confirm all transactions transferred and distributed, review and resolve processing errors, confirm work orders that should be closed are closed, run final accounting, close the cost accounting period, show the relationship to the inventory period and the GL period, and attempt a transaction in the closed period. The order matters: inventory period, then cost accounting period, then general ledger period. Closing out of sequence causes problems. Do not close with unresolved processing errors. They do not disappear — they surface next period with the wrong date. Build the client a close checklist. This is the deliverable that makes hypercare survivable — and the orientation module said the first close is the real go-live.

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In this module: Module 17 · Cost Processing and Close

  1. 1From transaction to journal
  2. 2Transferring transactions to costing
  3. 3Creating cost accounting distributions
  4. 4Creating accounting
  5. 5Reading the accounting
  6. 6Work order variance analysisFree preview
  7. 7Cost accounting period close
  8. 8Reconciling to the general ledger
  9. 9What breaks
  10. 10Lab: close the period and prove the number