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Day-Closure Settings

1. If you are using the accounting module of Loan Performer, you are strongly advised to run the day closure feature daily! Once the day-closure is done, transactions cannot be modified any more.

2. Before the day-closure, the user can modify manually posted financial transactions. Once the day-closure is done, transactions cannot be modified any more.

3. If however there is need to make adjustment on a closed financial period or year, Loan performer allows the user to open a closed period at Tools/Reopen closed financial years.


4. LPF does not allow a user to book transactions after the maximum number of days that a user can login after last Day- Closure.

5. The MFI can enforce day-closures by limiting the number of days after the last day closure at System/Configuration/Accounting/Day Closure Settings.

How to configure settings for Day Closure?

To configure settings for day closure you go to System/Configuration/Accounting/Day Closure Report and a screen like the one below shows up:

• Max no of days that user can login after last Day-Closure: In this field, enter the number of days after which a user will not be able to log in and post current transactions. This forces the user to do the day-closure so that now at login, users can enter today's date.
• Order Day Closure Report By: From the drop-down choose the order by which your day closure reports will be sorted and printed out, e.g., by "Transaction Code".
• Preferred Report for Day-Closure: Here you can select one of the two options: either to have reports printed in the Standard format or to have them in the Cheque format. as displayed below:
• Day closure reports have to be saved as (PDF) file: When this option is ticked, a path to the folder where the dayy closure reports will saved will be displayed.
• Day closure reports have to be logged? This feature only gets visible when the option "Day closure reports have to be saved as (PDF) file" is ticked, the user can then have the day closure reports logged.

Note that if the cheque format is selected, your reports will have additional columns for Cheque Number, Bank name and Cheque Amount):

• Last day closure date is: This field will automatically be displayed with the date when you last carried out a day closure at  Accounts/Day Closure. Before a day a closure is run these fields will be empty as see below:

• Last Month closure date is: This filed will automatically be displayed with the date when you last carried out a months closure at Accounts/Month Closure.
• Start of financial year : This filed will automatically display the start of the financial year as set at System/Configuration/Accounting/Accounts settings.

Click on the Save button to save the settings and on the Close button to exit.

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