Close Fin Period
Close Fin Period maintains the IMS financial close-through date. It gives finance administrators a single accounting cut-off date and keeps an audit history of every change.
Current closed-through date
When the screen opens, IMS reads the current closed financial date and displays it as Closed Until [date]. If no close-through date has been created yet, there is no previous boundary to display.
Set or change the close-through date
- Select the required Close Until date.
- Click Apply.
- IMS validates the requested date.
- After a successful change, IMS saves the new close-through date and records the action in the audit history.
What “Close Until” means
The stored date is the financial close boundary used by IMS. Dates up to and including that boundary are considered inside the closed period; later dates are outside the closed range.
An authorized user can also change an existing boundary to another earlier past date. Operationally, that changes which dates fall inside the closed range, so any backward change should follow the finance team's controlled reopening procedure.
Action History
The Action History grid shows the period-closing audit trail:
| Column | Meaning |
|---|---|
| Date | Date/time when the close-period action was recorded. |
| User Name | IMS user who applied the change. |
| Action | The initial “Close period until …” action or a later “Change closed period from … to …” action. |
The newest actions appear first. The history is kept in the IMS transaction log.
Operational guidance
Use this function after the finance team has completed the required posting and reconciliation for the period. Before moving an existing close boundary backward, confirm that reopening those dates is authorized and that any subsequent corrections will be reviewed.
Permission
The Financial menu exposes this module only to users with the Close Financial Period permission.