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    Home New York Finance Operations Management Finance Operations Management Finance Close Automation Setting up a workbook for an accounting period

    Setting up a workbook for an accounting period

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    Setting up a workbook for an accounting period

    Workbook for a period helps your finance organization manage its tasks within Finance Close Automation (FCA) and enables you to easily view progress against your plan. A workbook organizes functions and close tasks for a function into a single context.

    Because finance closing is a repetitive process, you typically create a workbook and define task dependencies only once, for the first period when configuring the FCA. From the next period onwards, you create the workbooks and tasks by duplicating the workbook from the prior period. The duplicate function copies over the entire workbook along with tasks including task dependencies.

    Setting up a workbook for a given period involves the following tasks:

    1. Create a Close workbook.
    Close workbooks are the highest level of organization to track the overall progress of accounting and operational timelines. You create a close workbook for the period at the finance organization level. The close workbook contains workbooks for various functions such as Payroll, Revenue, and Tax.
    2. Create functional workbooks.
    Functional workbooks group related close tasks together. The functional workbooks are created at the department level such as Payroll, Revenue, Tax, and External Audit. In functional workbooks, you create close tasks for the accountants.
    3. Create close tasks.
    Close tasks are discrete pieces of work assigned to accountants at either period end. There must be one Final task in each functional workbook.
    4. Define task dependencies.
    Dependencies between the tasks help you to determine the order in which tasks are performed. It is easiest to build task dependencies while creating sets of tasks. FCA enables you to set finish-to-start dependency between tasks that indicates that a task must not be started until its predecessor finishes.
    • Create a close workbook

      Create a close workbook for an accounting period to help your finance organization manage its tasks for the period and easily view progress against the plan. A workbook organizes functions and close tasks for a function into a single context.

    • Create a functional workbook

      Create a functional workbook to more easily group the tasks for separate functions in your finance organization.

    • Create a close task

      In the functional workbooks, create close tasks for accountants so that you can assign them the finance period end activities for which they are responsible. Finance admins can also create PBC tasks (Prepared By Client tasks) for external auditors.

    • Create and modify dependencies between close tasks

      You can create dependencies between the tasks to set and enforce the order in which the task owners perform the tasks. It is easiest to build task dependencies while creating sets of tasks. When you duplicate a workbook, the dependencies are also copied along with the tasks.

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      Setting up a workbook for an accounting period

      • Save as PDF Selected topic Topic & subtopics All topics in contents
      • Unsubscribe Log in to subscribe to topics and get notified when content changes.
      • Share this page

      Setting up a workbook for an accounting period

      Workbook for a period helps your finance organization manage its tasks within Finance Close Automation (FCA) and enables you to easily view progress against your plan. A workbook organizes functions and close tasks for a function into a single context.

      Because finance closing is a repetitive process, you typically create a workbook and define task dependencies only once, for the first period when configuring the FCA. From the next period onwards, you create the workbooks and tasks by duplicating the workbook from the prior period. The duplicate function copies over the entire workbook along with tasks including task dependencies.

      Setting up a workbook for a given period involves the following tasks:

      1. Create a Close workbook.
      Close workbooks are the highest level of organization to track the overall progress of accounting and operational timelines. You create a close workbook for the period at the finance organization level. The close workbook contains workbooks for various functions such as Payroll, Revenue, and Tax.
      2. Create functional workbooks.
      Functional workbooks group related close tasks together. The functional workbooks are created at the department level such as Payroll, Revenue, Tax, and External Audit. In functional workbooks, you create close tasks for the accountants.
      3. Create close tasks.
      Close tasks are discrete pieces of work assigned to accountants at either period end. There must be one Final task in each functional workbook.
      4. Define task dependencies.
      Dependencies between the tasks help you to determine the order in which tasks are performed. It is easiest to build task dependencies while creating sets of tasks. FCA enables you to set finish-to-start dependency between tasks that indicates that a task must not be started until its predecessor finishes.
      • Create a close workbook

        Create a close workbook for an accounting period to help your finance organization manage its tasks for the period and easily view progress against the plan. A workbook organizes functions and close tasks for a function into a single context.

      • Create a functional workbook

        Create a functional workbook to more easily group the tasks for separate functions in your finance organization.

      • Create a close task

        In the functional workbooks, create close tasks for accountants so that you can assign them the finance period end activities for which they are responsible. Finance admins can also create PBC tasks (Prepared By Client tasks) for external auditors.

      • Create and modify dependencies between close tasks

        You can create dependencies between the tasks to set and enforce the order in which the task owners perform the tasks. It is easiest to build task dependencies while creating sets of tasks. When you duplicate a workbook, the dependencies are also copied along with the tasks.

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