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4 Replies Latest reply: Nov 19, 2012 9:39 AM by 958991 RSS

Monthend Activities

958991 Newbie
Currently Being Moderated
Hi Experts,

I am new to HFM and would like to know what are the some madatory or routine task we perform in monthends in HFM. Could you please someone help me on this.

Thanks in advance.

regards,
Santhosh
  • 1. Re: Monthend Activities
    878634 Explorer
    Currently Being Moderated
    Hi Santosh,

    To close the month in HFM, the basic things are

    1). If there are any new accounts opened than need to added them in Metadata Account Structure.
    2). Opening the period for that month.
    3). Loading the data for the Accounts.
    4). Entering the Exchange rates if its an International Business for that month.
    5). Entering the Historical rates for that month.
    6). Running consolidation for that month for all the Entity Structure of the business.
    7). And finally validating the reports like Profit and Loss, Balance Sheet.
    8). And after all the process is done than lock the periods for that month so that no data will be modified.

    These are the most general activities which will be performed in an month closing, hope this would help you.

    Regards,
    Srikanth
  • 2. Re: Monthend Activities
    958991 Newbie
    Currently Being Moderated
    Hi Srikanth,

    Thanks you soo much, that's really helpful.

    Regards,
    Santhosh
  • 3. Re: Monthend Activities
    878634 Explorer
    Currently Being Moderated
    Hi Santosh,

    Can you please mark the question as Answered.

    Regards,
    Srikanth
  • 4. Re: Monthend Activities
    958991 Newbie
    Currently Being Moderated
    Sure, thanks

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