Benefits of a hard close verses the flexibility of open accounting periods

Dynamics SL has always touted its flexibility.  Flexibility is designed into the closing process.  For many accounting systems once the closing process has been run, those financials are cast in concrete.  This is of critical importance to companies that are publicly traded, or report to investors or a bank.

For the other 90% of the companies it is nice to have the flexibility to report the most accurate representation of that month’s performance, even if some of the transactions are made a month or more after closing. 

Flexibility can also lead to errors.  The most common error is a typo on a date, i.e., I intended to enter 2010 for the year but accidentally hit 2001.  Dynamics SL will give a warning message that the transaction is not in the current period but if the message is accepted, it will allow the posting to the wrong year.

The ultimate in flexibility with some intelligent control is the addition of a package called Hard Close by IronWare Technologies.  Hard Close allows the system manager to apply company policy and security by user.  So for example, allow my AP person to post transactions to the current period and one future period but beyond that entry is restricted.  The system administrator can setup period ranges and restrictions on 40 entry screens where errors may occur to prevent posting to incorrect periods.  As system manager you can always adjust any future or historical period.

If you would like more information on this utility that can save hours of detective work each month, please contact Steve Williams ( 614-899-9900 x 122 for a data sheet and pricing.


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