Page 14 - UNANET GOVCON: CLOSING A FISCAL PERIOD

LESSON 2: SUBLEDGERS

Learning Objectives

• Differentiate the various procedures and options used to verify, reconcile, and
close Unanet’s Posting Features
o Verify Subledger accuracy by running and comparing reports to validate the
Project-to-Financials postings
o Close Posting Features for Subledgers:
o Accounts Payable
o Purchasing
o Customer Invoicing
o Accounts Receivable

Introduction

All Financial Transactions for the period should be entered prior to closing the fiscal
period. Verify Subledger accuracy by running and comparing reports to validate the
Project-to-Financials postings. Once all Subledger transactions have been recorded,
they should be closed to prevent further postings in the current fiscal period.

Lesson 2 Overview Video (for SDL only)

Accounts Payable

Accounts Payable represents the amount of money owed by a Company to its creditors
(vendors). This amount is recorded as a liability on the Company's balance sheet and
should be reconciled to account for items recorded through Financial Documents other
than Vendor Payment and Vendor Invoice document types.

LESSON 2: SUBLEDGERS Page 14
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