It’s the end of October, which means many organizations are planning for the year-end close!
PeopleSoft General Ledger has delivered many powerful capabilities for closing over time, such as incremental processing in period close. And most recently, we delivered new capabilities in this area with tighter controls.
In FSCM Image 37, we delivered two new valuable capabilities to control end-user’s ability to enter and post journal by source (asked by customers as journal source security) and the posting of the entry during period end based on a powerful cut-off schedule.
The first capability controls what journal sources a user can enter journals. The control is established through the configuration and assignment of certain journal source. Once configured, users can only enter journals under the assigned sources.
Configuring Journal Source Security – Establishes the hierarchy
The second capability controls the posting of journals during period close, based on a defined cut-off schedule by source. Journals beyond the cut-off date can’t be posted unless the user has been granted the overriding authority for that source.
The cut-off date uses the accounting period of the selected fiscal year calendar. Each source has a specific cut-off date for each period. Each journal is subjected to the cut-off dates. The system date (on the server) is used to evaluate posting appropriateness.
Defining Cut-off Schedule – Controls Posting During Period Close
To learn more about the capability – check out the Image Highlights, PeopleSoft FSCM Update Image 37