What are the procedures of period closing?

Financial Month Closing follows various tasks and verification activities as follows:

Complete all pending transactions for the month in all installed sub ledgers which includes, Inventory, Purchasing, AP, AR, FA, Costing, CM 

Complete the Fixed Assets Depreciations

Complete Create accounting and transfer to GL for sub ledgers

Run Sub Ledger Exception report and make sure there is no exceptions

Close the Period for each sub ledgers

Close the period in GL