Final Close
Closing a period means the reviewed accounting supports a defined reporting package and the organization has completed its authorized closing and change-control steps. The underlying book, exported documents and recipient evidence are different objects. A document can exist while its numbers are stale; correct accounting can exist while the required package is missing.
Open Accounting → Accounting Review & Close → Final Close after GL, NAV, fee and capital review to investigate those remaining layers. This tab reads evidence; it does not execute a close or record independent reviewer sign-off.
Match the scope
Choose Entity and its Accounting Period, then confirm the dates and status in the header. The tables are exception-focused. Clear a table's default non-Ready filter when you need to inspect its returned passing population; this does not create missing records.
Package Completeness shows two Blocked required outputs: Financial Statements and Period Report, each with Documents Found = 0. The selected July–September period remains Open; no reporting package or final close was completed.
Why the example is still open
Treat the close package as a dependency on reviewed accounting. Correct a recognition or balance issue before relying on statements derived from those amounts, and regenerate outputs that the correction makes stale. Required document links and dates establish package presence; content review establishes whether those outputs explain the intended period. Closing-entry, period-status and lock evidence must then be verified through their own authorized processes.
The two Package Completeness rows identify missing Financial Statements and Period Report documents. They give the reporting owner a concrete task: prepare the required outputs for this entity and period end through the authorized reporting process, then inspect their contents and required links. An unrelated document with a matching label would not establish a correct reporting package.
The same core example also has a USD1,200 expense journal that remains Draft. Adding the two documents would not complete that recognition or approve its accounting. Resolve the accounting work first where needed, then refresh the checks and regenerate any output made stale by the correction. Period closure, reviewer approval and the final lock still require their own evidence.
Read the sections below as separate questions about that evidence. A clean arithmetic check cannot replace a missing document, and a complete document list cannot replace unresolved accounting.
Read each type of evidence separately
The financial-statement tie-out tests relationships within the recorded ledger. Package Completeness tests whether the required entity/period outputs are saved. CAS checks connect an investor's ledger closing balance to a saved statement and recipient evidence. Period Variance asks what changed from the prior period and needs explanation. Prepaid Source Integrity traces a timing asset back to its cost source. Post-close monitoring asks what changed after the final lock. These controls compare different evidence and cannot clear one another by arithmetic alone.
Closing Entry Readiness first shows Closing Entry-stage blockers. The configured checks include multiple closing entries and more than one P&L currency. These are not a complete close checklist or authorization to skip an unresolved policy decision.
FS Tie-Out compares GL-derived net assets with equity plus cumulative earnings and checks selected-period debits against credits by currency. It tests internal Posted-ledger consistency, not agreement with the contents of an exported PDF. Even zero balances can pass this arithmetic test.
Package Completeness looks for two required outputs: Financial Statements and a Period Report. They must have the accepted document type, an entity link and an as-of date equal to period end. The configured annual-versus-quarterly convention uses the period length. Document presence is separate from accuracy, approval and delivery.
CAS Tie-Out compares capital-ledger closing balances with the latest period-end statement linked to the subscription or capital account. A document without a machine-readable closing balance requires review; the control does not read and validate every number in its PDF.
CAS Distribution looks for statement recipient evidence through a direct investor link or shared folder. This does not prove an email was delivered or that the investor opened or read the statement.
Period Variance compares balance-sheet ending balances and P&L period activity with the latest preceding accounting period. Inspect the comparison dates and materiality fields. Missing prior periods require review; a material movement is a question to explain, not automatically an error.
Prepaid Source Integrity inspects relevant Posted prepaid lines through period end, including older lines. Trace their source/expense links, service dates and matching expense debit where applicable. An empty result is not evidence that every prepaid source was recognized.
Post-Close Changes & Audit Coverage shows Final-stage post-close change and audit-coverage issues. Monitoring depends on an actual final-period lock with the expected provenance and available audit history. No alerts before that lock are not evidence that monitoring has been exercised successfully.
Review, correct and repeat
Identify the precise journal, source, document, recipient or audit event behind each issue. Resolve accounting causes in their owning apps and document issues in the authorized document/reporting process. Do not relabel an unrelated file merely to satisfy completeness.
After a relevant change, refresh the affected controls and regenerate and review any outputs that are now stale. Period close, closing-entry posting, row locking and organizational reviewer approval remain separate actions. Use only an authorized workflow your organization has actually made available, and verify its persisted result independently.
The example period remains Open, with a Draft journal and no completed reporting package or final lock. It shows an incomplete close, so it does not demonstrate successful post-close monitoring.