Financial close

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Financial close

Description

A financial close is an accounting procedure executed at the end of a certain period (e.g. a year, a month...) to financially close that period. A financial close puts together all transactions of the past period (received payments, executed refunds...)

In mobi.guider, financial closes are managed in the Revenue Management module. When you execute a financial close in this module, all relevant information is sent to the PTO's financial application.

Types

You can distinguish two types of financial closes:

Type	Description
Periodical close	In a periodical close, the gross sales (not spread) are reported to the financial application. Periodical closes are typically executed over a short period of time (e.g. a day). Example One day, a customer buys a season pass of €120. At the end of that day, a periodical close is executed and a gross sale of €120 is reported to the financial application.
Monthly close	In a monthly close, the spread sales are reported to the financial application. Example At the end of the month the customer bought his €120 season pass, a monthly close is executed. It indicates that €10 can be booked for that month, as the €120 has to be spread over twelve months.

Type

Description

Periodical close

In a periodical close, the gross sales (not spread) are reported to the financial application. Periodical closes are typically executed over a short period of time (e.g. a day).

Example

One day, a customer buys a season pass of €120. At the end of that day, a periodical close is executed and a gross sale of €120 is reported to the financial application.

Monthly close

In a monthly close, the spread sales are reported to the financial application.

Example

At the end of the month the customer bought his €120 season pass, a monthly close is executed. It indicates that €10 can be booked for that month, as the €120 has to be spread over twelve months.