Close Period (Subscriber)

Fiscal periods may be “closed”, meaning that subscriber payments, refunds and auto renews can no longer be entered for the closed period. By closing fiscal periods, it will be easier to balance Circulation reports to the general ledger. Running Fiscal Close is optional.

Transactions that are affected by Fiscal Close are:

• Payments, including payments entered in Customer Service and Batch Payments, as well as payments imported via lockbox or Telemarketing Import

• Cancel payments and NSFs

• Auto renews

• Refunds and refund writeoffs

• Grace owed transactions and grace writeoffs

In order to close a fiscal period, all payment and refund batches for the period must be accepted, and payment processing must be run up to the last day of the period.

Fiscal periods are closed using the Close Period option, located on the Fiscal Close - Sub menu. Other than Close Period and Holding Acct Setup, the options on this menu are standard options duplicated here for convenience.

Once a period is closed, payments, auto renews, refunds and grace owed cannot be entered for the period.

To close a fiscal period:

• Select Close Period from the Fiscal Close - Sub menu to display the Fiscal Close Date window.

• Click Add and complete the following fields.

Field	Type	What to enter
PRODUCT	setup	Enter the product ID for which you are closing the fiscal period, or enter “*” and multi-select products.
PREVIOUS DATE	display	The last fiscal close date is displayed here.
CLOSE DATE	date	Enter the last date of the fiscal period that you are closing. Note that this date is not validated against the fiscal calendar.
CHANGE TRAN DATES	yes/no	Select this checkbox if you want to change the transaction date on all unprocessed payment transactions to the fiscal close date entered, plus one day.

• Click OK and then Continue to close the fiscal period. Once the fiscal period is closed, payments, refunds, etc. can no longer be entered for that period.