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Administrator Guide
Last Updated: 2023-06-23
Change the Status of Ledger Periods

Change the Status of Ledger Periods

  • Configure the
    Period Close Event
     business process and security policy.
  • Create the ledger year and ledger periods.
  • To manage period and year-end closes through the workflow, define a close checklist to include steps for updating ledger period statuses.
Update ledger period status of a single ledger or multiple ledgers to:
  • Open a ledger period.
  • Limit journal activity as a period close progresses.
  • Close the ledger period.
  • Reopen the ledger period.
You update ledger period statuses for Primary fiscal schedules only. Alternate fiscal schedules are for reporting purposes only.
If you have journals and pending transactions that you haven’t processed, understand what the account impact is going to be before closing the period. To close a period for specific groups of operational transactions, you can update the status to
Close in Progress
 and select the activity groups to close. You can create or configure your own activity groups for
Close in Progress
 in the
Maintain Period Close Activity Group
 task.
When changing the status of activity groups to
Close in Progress
, you can always create an adjustment journal.
  • Option A: Update the Status of Single Ledger Period
    1. Access the
      Update Ledger Period Status
       task.
    2. As you complete the task, consider:
    Option Description
    Ledger Period
    Select by company and ledger year the ledger period that you want to update.
    All Book Codes
    Blank Book Code
    Select Book Code
    Workday selects
    All Book Codes
     by default. Workday uses the book code to filter transactions, the ledger status, and pending transactions.
    Use
    Select Book Code
     to specify 1 or more specific book codes.
    Updates to the ledger period status apply only to accounting journals and operational transactions for the book codes you select.
    Status
    Closed Activity
    Select the new status of the ledger period. The ledger period must be in
    Open
     status before you can post transactions to the ledger.
    If you select
    Close in Progress
    , select 1 or more close activities. Workday considers those close activities as
    Closed
    . You can't edit close activities that are in use.
  • Option B: Update the Status of Multiple Ledger Periods
    1. Access the
      Mass Update Ledger Period Status
       task.
    2. As you complete the task, consider:
    Option Description
    Year
    Select the fiscal year for the ledger periods you want to update.
    Company
    Select 1 or more companies or a company hierarchy. You can select from only the company hierarchies where every company within it has the selected fiscal year.
    Sort By
    Select
    Period
    or
    Company
     by which you want to sort the processing results.
    All Book Codes
    Blank Book Code
    Select Book Code
    Workday selects
    All Book Codes
     by default. Workday uses the book code to filter transactions, the ledger status, and pending transactions.
    Use
    Select Book Code
     to specify 1 or more specific book codes.
    Updates to the ledger period status apply only to accounting journals and operational transactions for the book codes you select.
    Select All
    New Status
    Closed Activity
    Select the new status for all or selected periods. If you select the
    Close in Progress
     status, select 1 or more
    Closed Activity
    .
    To schedule updates for multiple ledger periods, use the
    Schedule Mass Update Ledger
     task.
    You can't close a ledger year if the period for a book code is in
    Closed
     status.
  • Workday updates the status of the ledger journals.
  • You can review journal statuses, pending transactions, and ledger period status history. You can close out work-in-progress before you update the ledger period status.
  • After you close a period, you can no longer post anything to it.
  • If there are pending operational transactions, Workday posts them to the next open ledger period once you complete them.
  • You can view the process monitor on the
    My Reports
     tab to see status of any periods that didn’t update.
    These messages include the reason Workday didn't update the statuses and provide recommendations for how to correct those periods.
    Example:
    The status of the following periods was not updated because there were accounting journals pending approval.
  • Change the status for these and other ledger periods to:
    • Open them.
    • Limit journal activity.
    • Select which activity groups to close.
    • Close them.
    • Reopen them.
  • Close a ledger year.