Period End Close For QAD

Tasks

• Check for unposted transactions & post them
• Alert user by email for unposted transactions
• Closing sub-modules and general ledger
• Generating trial balance sheet and income statement reports
• Sends reports to users

For many organizations, the period-end closing process has always been fraught with delays & longer reporting timescales. While finance teams spend significant time on the closing process, they are unable to focus on important tasks and high-value work that will drive the business forward and deliver results.
The period close process executed every month typically involves posting all GL transactions, checking and rectifying errors, performing exchange rate revaluations, closing sub-modules, general ledger, and finally, generating the trial balance for export to any financial reporting application. Depending on the size and complexity of the company, this repetitive process has to be executed at the end of each period for every database/domain/entity.
The Period End Close For QAD bot developed by Thirdware automates this entire process in QAD