This communication serves to remind the municipality to close period 13, subsequent to the submission of the 2018/19 Annual Financial Statements (AFS) for audit purposes.
The system does not automatically close this period, therefore if the period is not closed, the municipality runs the risk of processing transactions in period 13 which may cause an imbalance between the AFS and the General Ledger (GL) and Trial Balance (TB).
The municipality must exercise due care by ensuring that the Munsoft TB agrees to the AFS prior to closure of the period.
Furthermore, the municipality should ensure that the PAUD is submitted as required by the National Treasury prior to closure of the period.
Kindly note that the period cannot be reopened once closed, therefore all the above requirements must be met to ensure compliance.
Subsequent to the closure of Period 13, Period 14 will be open to process any audit adjustments after submission of the AFS for audit purposes.
If you have any queries, please contact your Service Delivery Manager for assistance.