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Source truth: - Financial Periods - Close - Close Run Contract - Posting and Reversal - ADR 0020: Initial Release Scope and Financial Workflow Taxonomy - Business Time Contract

Period Close

This page describes the period close process.

Current desktop availability

Canonical CloseRun evaluation, review, waiver, approval, finalization, reopen, and history behavior is implemented behind services but is not wired into desktop navigation. The visible fiscal-calendar Soft Close, Hard Close, and Reopen controls are legacy period toggles, not the supported canonical Period Close procedure described here. Do not use this page as instructions for those legacy controls.

Workflow family placement: Close Processing.

Procedure

  1. Start a close run for one period and choose soft close or hard close.
  2. Review the captured blockers, warnings, informational items, evidence, and report pack.
  3. Resolve ready posting work and other non-waivable blockers.
  4. Resolve or explicitly waive only those blockers that policy marks waivable.
  5. Re-evaluate when postings, corrections, reconciliations, evidence, reports, periods, or policy changed.
  6. Finalize a ready soft close. For hard close, record the distinct approval for the exact current run before finalization.

Notes

  • Use soft close for review and reporting.
  • Reserve hard close for year-end or completed periods.
  • Treat blockers as close-stopping issues until resolved or explicitly waived under policy.
  • Treat warnings as review prompts.
  • Record waiver reasons clearly enough for later review.
  • Base hard-close approval on the latest fresh close run; an older approval cannot authorize a changed or newer run.
  • Retain close evidence or report snapshots when policy requires them.
  • Reopen containing periods before constituent periods, and run a new close after the reopened work is complete.
  • Read the close boundary as the period's inclusive company-local end date. Evaluation, approval, and finalization times are event timestamps and may display in another named zone; they do not move the accounting close date.

Close readiness

A close readiness review should make clear:

  • which period is being reviewed;
  • whether the review is for soft close or hard close;
  • which blockers and warnings exist;
  • which issues were waived;
  • who approved close or waiver actions;
  • what supporting evidence exists for the period.

Waivers are controlled exceptions. They should remain visible and should not silently remove the underlying issue from history.

Close runs and their checks are control evidence. Formal balances and reports still come from posted ledger entries and captured Reporting runs.