Close

Close

The Close menu contains functions for manual or automatic closing of outstanding items. 

The Close menu contains functions for manual or automatic closing of outstanding items. 

Documents are closed by making or selecting a contra-entry. Closing is important when browsing paid, unpaid or partially paid documents (see Browse Posts). Documents need also to be closed before accounting for interest on arrears.

The Close menu contains the following items:

• Manually- manually or automatically selected posts for a subject and account that should be closed,
• Manually - General Ledger
• Re-post- manually selected posts for a subject and account that should be closed with re-posting or by posting of contra-entries (useful for closing invoices and credit notes with different due dates),
• Set-offs- close outstanding items by setting them off against the others,
• Prepare Multilateral Set-off- prepare data to create a multilateral set-off,
• Prepayments- close prepayments of customers or to suppliers with invoices for issued or received goods or services, 
• Rounding Differences and Cash Discounts.
  • When closing rounding differences you must set the maximum amount that is still regarded as a rounding difference. PANTHEON will then look through all documents and where the difference between claim and payment is less than the set amount, the difference shall be posted to the selected account for rounding differences.
  • Closing cash discount checks functions similarly. On the basis of the entered data of the cash discount allowed with the business subject (or rather type of subject) the program checks whether the invoice has been paid in a specified period. And if it was, it removes records containing the difference to the corresponding account.
• Import Multilateral Set-Off Results.