Managing Periods for different Process types
Hi,
We are implementing ARM (version 11.1.2.4) and are trying to find a solution for the following requirements:
- All reconciliations need to be prepared by day X, including recons for Intercompany accounts which are prepared on a Company-Account level
- Once all recons have been closed, the period needs to be "Locked" as a SOX control
- For additional internal checks the client wants to perform another set of recons for the IC accounts which would also include the subaccount (or Intercompany partner) segment. Those recons would be prepared after the period has been locked.
The initial issue we are facing is that once the period has been locked, the users cannot prepare any more recons in the period. If we would "Close" the period instead of "Locking" it, this would be possible, but the client wants to use the Locking mechanism as a SOX control.