When we close a period in IO no further posting can take place.  The IO close, like Banner, has several pieces that close independently.  The pieces are P2P, Payroll, Fixed Assets, Receivables (Cashier’s Office), Projects, and General Ledger.  These were all separate before, too, although there was no Projects module in Banner.  We generally describe the period as closed when the last piece, the general ledger, is closed.  Closing the period means that the Actual YTD amount is final and no further changes will take place.

Now, there are some caveats about this.  First, the conversion from Banner to IO has involved some re-work and some delay, so every period in FY 2022 has been re-opened at some point.  I believe that the posting this weekend may (fingers crossed) be the last of that.  That would mean the Actual YTD column in the general ledger Finance Dashboard would remain static for closed periods.

Second, the encumbrances reported in the general ledger Finance Dashboard are being picked up from the open encumbrances in P2P.  This means that the encumbrance amount is not static, even if the period is closed.  As the PO balance declines, the encumbrance data is updated.

Third, the salary and fringe encumbrances are a work in progress.  The details on how these are calculated and displayed are not yet final.