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Administrator Guide
Last Updated: 2024-09-20
Define Rules for Processing Year-End Close in AP&C

Define Rules for Processing Year-End Close in AP&C

Define account sets for the company.
Define rules that map source accounts to target accounts when rolling account balances forward in Adaptive Planning and Consolidation (AP&C).
  1. Access the
    Maintain Year-End Closing Rules
     task.
  2. As you complete the task, consider:
    Option Description
    Account Set
    The set of accounts for which you want to establish the year-end closing rules.
    Ledger Account Source
    The ledger account from which you want to move balances when you close a ledger year. You can only select from balance sheet accounts.
    Ledger Account Target
    The ledger account to which you want to move balances when you close a ledger year. You can only select from balance sheet accounts.
Workday applies these rules when you:
  • Roll year-end balances forward using the
    Roll Forward Year-End Balance
     task.
  • Close a ledger year using the
    Close Ledger Year
     task.
You can specify a rule with the same source and target retained earnings account. If you don't specify a rule, Workday rolls account balances forward to the same account during roll-forward and year-close processing. If you want to apply changes to future closes, change the rules. If you want to reopen prior ledger years and close them again, use new rules. You can change rules at any time.
Use the
Year-End Closing Rules
 report to review existing rules by account set.
You keep current year and prior year retained earnings in separate accounts. At year-end, move the retained earnings balance from the current year account to the prior year account. This creates a blank current year account to use for the next year. When you report for your new current year, you see the net income.
Close a ledger year.