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Administrator Guide
Last Updated: 2024-09-20
Close Ledger Periods in AP&C

Close Ledger Periods in AP&C

  • Create ledger years and ledger periods.
  • To manage period, quarter, and year-end closes directly in Workday through the business process workflow, create close checklists.
Closing a ledger period in Adaptive Planning and Consolidation (AP&C) transfers the balances of temporary accounts, such as revenue, to permanent accounts, such as retained earnings at the end of an accounting period. You can close a ledger period in preparation for a new period. Closing ledger periods:
  • Calculates period actual and budget account balances for reporting.
  • Controls journal entry and posting.
  • Maintains accurate accounting records.
  1. If you are using a close checklist within Workday, use the
    Period Close Event
     business process to begin a close.
  2. Review the journal statuses and pending transactions.
  3. As the close progresses, limit journal activity. Close out work-in-progress before you change ledger period statuses to
    Closed
    .
After you close a period, you can no longer post anything to it. Workday posts any pending operational transactions to the next open ledger period once you complete them.
You can use the
Ledger Year
 report to view a snapshot of period and year-end close status. You can view:
  • All ledger periods for the ledger year of a company.
  • The status of each ledger period.
  • The status history of the ledger year overall.
  • Close other ledger periods.
  • Close a ledger year.